Three new challenger banks will today join the FTSE 250. Who are they, and what do they offer? In this blog post we take a look at Aldermore, OneSavings (trading as Kent Reliance) and Shawbrook Bank.
Since its launch in 2009 Aldermore has grown at an impressive rate. The bank, which floated just a few months ago, offers a range business focused products from business savings to asset and invoice finance, as well as commercial mortgages. It also providers retail savings and residential mortgages.
Valuation: £907m market capitalisation (as at Friday 12th June 2015)
Are you a customer? Why write your Aldermore review now.
Kent Reliance has had a long history, and was formerly a building society that can trace its roots back to 1847. Having grown significantly throughout the early part of the twenty-first century, it made news when JC Flowers, a leading US-based private equity firm decided to buy a stake in the business. Today, the Kent Reliance offers a range of savings, ISA, bond and mortgage products.
Valuation: £731m market capitalisation (as at Friday 12th June 2015)
Are you a customer? Why not write your Kent Reliance review now.
Shawbrook Bank focuses on offering business loans and asset finance to a range of small and medium sized businesses. Shawbrook also has a healthy commercial mortgage business. It also has a consumer savings business, offering a full range of ISA, bond and notice accounts.
Valuation: £950m market capitalisation (as at Friday 12th June 2015)
Are you customer? You can write your Shawbrook review now.
More will follow
The list of new challenger banks preparing to launch is pretty long…and looks set to get even longer. Many of these new banks are working hard to be pretty different, which breathe a welcomed bit of fresh air into the banking industry.
In the meantime, more banks look set on joining the FTSE 250 soon enough. In this group two banks stand out in particular:
Metro Bank’s launch brought the UK its first new high street bank in over 100 years. After a very successful launch back in 2010, Metro Bank is growing fast, and with customers asking for more branches (see Gorex’s Metro Bank review below), it plans to have 150 stores by 2020. This makes it definite one to watch.
Read more Metro Bank reviews.
Charter Savings Bank
Launched in March of this year, Charter Savings Bank offers a range of savings accounts which can be accessed online and on the phone. So far, we have had two Charter Savings Bank reviews…and we would love to see a few more!
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