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Challenger banks are crucial to competition says Aldermore Bank Chief

POSTED: 19th June 2013
IN: Newsroom
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Commenting on the publication of the Parliamentary Commission on Banking Standards' report published today

Aldermore chief executive Phillip Monks said:

"We strongly welcome the Commission's recommendations to increase competition in banking. There can be no clearer indication that the Government is serious about improving the banking system for SMEs and retail customers than if it was to adopt the proposal to include a competition objective in the PRA's remit. We could not agree more with the Commission in this regard.

"Aldermore was created to achieve the very title of the report - to change banking for good - and many of the recommendations made today would support our mission to provide a genuinely new approach for our SME and retail customers across the country."


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