A bank you may never have heard of is offering more and more loans in 2017. OneSavings Bank increased the value of its loans by nearly 17% in 2016 and is forecast to continue growing. They are one of several newer banks who are looking to challenge the Big 5 lenders’ hold on the UK market.
Reuters reports –
“Chief Executive Andy Golding expressed optimism about the UK economy, but cautioned that uncertainty loomed over Britain’s departure from the European Union as divorce talks get set to begin… Shares of the company rose as much as 4.1 percent in morning trading on the London Stock Exchange to hit a record high of 436 pence… “We have got Brexit looming and the triggering of Article 50 and nobody really knows what impact that’s going to have on the UK macro economy, although the economy seems to be very very well at the moment,” Golding told Reuters… Brexit minister David Davis said on Wednesday he expected legislation giving Prime Minister Theresa May the power to trigger Article 50 of the EU’s Lisbon Treaty, launching divorce talks, would be formally approved by Queen Elizabeth on Thursday.”