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FCA review shows evidence of growing competition to Big 4 in retail banking
In an update to its 2018 strategic review of retail banking, the FCA found that, while still strong, there are signs large banks’ historic advantages are starting to weaken, driven... read more
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MBNA finalise sale of credit card assets to Lloyds for £1.9bn
Lloyds Banking Group has finalised the purchase of MBNA’s UK credit card business from Bank of America for £1.9 billion pounds in an effort to increase profit and reduce its reliance on mortgage lending. The move represents the first major acquisition for Britain’s biggest mortgage lender, which is part-owned by the government, since it was bailed out [...]
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Lloyds front-runner for BofA’s UK credit card business
Lloyds Banking Group has emerged as the leading bidder for Bank of America’s (BofA) £7 billion (A$12 billion) credit card business in Britain, taking the UK lender closer to its first acquisition since being rescued by the taxpayer more than seven years ago. According to reports, Lloyds had moved ahead of US private equity group [...]
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