Lender 'to increase business banking options'
A lender is to increase its business account range, a report has stated.
Organisations seeking to compare savings on competitive business banking options in the near future may be pleased to note that one financier has revealed its plans to grow this area of its company.
According to the Yorkshire Post, the Yorkshire Bank is "gearing up for a major expansion" in the small business account market as it seeks to "capitalise on the retreat of rivals and an expected increase in start-ups" in 2011.
The financier is reportedly now taking action internally which will see it launch several new packages following a marketing campaign aimed at attracting companies with turnovers below £1 million.
This comes after Cathryn Hayes, head of franchising at HSBC, told the Daily Mirror that professional financial help is often needed for start-up firms.
Meanwhile, another expert has criticised the UK's business banking market.
Organisations seeking competitive business account packages may have been denied greater choice in the market due to a recent deal between two major financiers, it has been suggested.
Jayne-Anne Gadhia, chief executive of Virgin Money, has said that Santander's purchase of 318 Royal Bank of Scotland (RBS) branches represented an "opportunity lost" to end the period of dominance of the country's five biggest lenders within the small business banking sector, Herald Scotland reports.
Ms Gadhia told MPs that the agreement - which may have been good news for Santander savings holders - simply strengthened the "oligolopy" that HSBC, RBS, Santander, Barclays and Lloyds TSB enjoy in the UK, meaning that consumer choice and competition is limited.
She added that these five institutions now "operate more than 90 per cent of the small business market".
Meanwhile, Santander recently offered a £100 bonus to any firm switching to one of its business accounts.
Questions and Answers
We're often told to be careful of our money these days. With a gloomy economy, the incidences of sharp practices are on the increase . . . yet the last place you'd expect to see this wouljd be the High Street. Or so you would think . . .
The article consists of the tips for the bankers to have effective followup over the loans granted to their borrowers
Interview with the intending borrower plays a great role in providing a lot of information to the credit manager while he is in the process of extending finance to a new borrower. In this article certain tips are given as to how questions can be posed during the course of credit interview
India: Banking covers the industry overview in terms of inflation, repurchase agreements, new loans, policy banks and foreign banks. It also covers the market trends and outlook including reserve requirement ratio, Basel III, financial integrated circuit cards, non-performing loan and internationalisation of RMB, plus the operational highlights and SWOT analysis of the leading players: State Bank of India, Punjab National Bank, HDFC Bank and ICICI Bank.
Personal banking is the term which is actually devised on the lines of retail banking. The essence of such type of banking facility is that the products and services are custom designed to meet individual banking and subsidiary needs.
Fears about how the problems in the Eurozone will have an effect on the UK, and how being part of the eurozone can be beneficial to some countries and negative to others. The eurozone has a strong influence on natural economic principles and these influences spoil the natural economic balances. Consequently a country's financial problems can continue to spiral whilst other countries can manipulate these factors to their benefit.
Those with the Android operating system on their phone in the UK will be able to download the RBS & NatWest Mobile Banking application soon
Britons are struggling to cope with the rising cost of living, and thus are continuing to accumulate the highest levels of debt seen since that seen at the height of the recession, back in 2009.
Figures recently released by the Office of National Statistics (ONS) show that the economy in the UK has grown by 0.5 per cent in the third quarter of 2011.
Economic downturn may have caused most business' to falter, but credit cards appear to be on the way up!
Summerhouses come in an assortment of shapes and sizes so finding one to suit your tastes can be challenging – especially as it is likely to be a large purchase while becoming a big feature in your garden.
Discuss this Article
