InCredit March 2014 — market news: Paragon Bank launches under PRA new capital regime; and more
Addleshaw Goddard has published the March 2014 edition of InCredit. According to a company press release, Paragon Bank has become the first new bank to obtain a banking licence from the PRA. It will be a specialist online bank as opposed to a challenger bank, according to reports.
- Paragon Bank launches under PRA new capital regime
- Funding Circle receives £40m from UK government
- Crowdfunding hits UK TV
- Santander expects car finance deal with Peugeot
- Iceland bank collapse brings new bill for British banks
- Airbus creates in-house bank to lend to customers
- Lloyds returns to profit
Click on the link below to read the Addleshaw Goddard briefing.
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Briefings from Addleshaw Goddard
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The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.