Banking Competition Remedies Ltd (BCR) publishes progress report
The Board of Banking Competition Remedies Ltd (BCR) today publishes the fourth update from Pool A recipients, third update from Pool B and D recipients and second update from Pool C recipients, providing a summary of performance against their public commitments to the period 31st March 2020.
The updates of those awarded, their original commitments made and key achievements to date can be found here. All Pool awardees will submit their next progress reports in July 2020.
Pool A fourth quarter update
- Metro Bank plc public commitment update
- Starling Bank Limited public commitment progress update
- ClearBank Ltd public commitment progress update
Pool B third quarter update
- Investec Bank plc public commitment progress update
- The Co-operative Bank plc public commitment progress update
- Note that BCR accepted a revised Business Case from Nationwide in which it returned, with interest, the full £50m Pool B grant awarded in April 2020 and therefore Nationwide is no longer required to report. Their archived public commitments can be viewed on the website.
Pool C second quarter update
- Atom Bank plc public commitment progress update
- The Currency Cloud Group Ltd public commitment progress update
- Iwoca Ltd public commitment progress update
- Modulr Finance Limited public commitment progress update
Pool D third quarter update
- Codat Limited public commitment progress update
- Fluidly Limited public commitment progress update
- Form3 Ltd public commitment progress update
- Funding Options Limited public commitment progress update
- Swoop Finance Limited public commitment progress updat
Aidene Walsh, CIF lead director said: “Despite the challenging circumstances, awardees are continuing to make a real difference for SMEs with many adapting quickly to the current environment to assist SMEs in areas such as lending. Whilst there are challenges ahead, the focus remains on the overall aim to increase competition in the UK business banking market”.