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UK’s bank challengers are fading in fight with big four | Financial Times

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Policymakers had encouraged the new competition to the entrenched Lloyds, Royal Bank of Scotland, and Barclays. It does not seem to be working. In 2000 the top six firms accounted for 80 per cent of personal current accounts, according to the FCA. By 2017, the figure had risen to 87 per cent

Banks say they are not helped by a contradiction in policy. While the Bank of England has offered more than a dozen new banking licences for new firms to get off the ground, it has also introduced uniquely stringent regulations that banks say make it difficult for them to grow.

UK’s bank challengers are fading in fight with big four | Financial Times:

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