Do Virgin Money and Tesco Bank 取引，協定s signal end of the road for the 初めの 挑戦者 banks?

  • 全国的な 始める，決める to buy Virgin Money in 取引，協定 価値（がある） nearly £3bn
  • It comes just weeks after Tesco agreed to be bought by Barclays?
  • Could this 可能にする その上の activity in the 中央の-tier banking 部門?

By Angharad Carrick

Updated:

全国的な's 取引，協定 to buy Virgin Money 示すs the second 取得／買収 of a 中央の-tier bank to be 提案するd in a 事柄 of weeks.

The planned sale of both Tesco Bank and Virgin Money?to larger 競争相手s is a 重要な 開発, not least because both started out as 挑戦者s to the big 貸す人s.

As the main high street banks shore up their position, and 数字表示式の banks like Monzo and Starling continue to innovate, these 挑戦者s are 直面するing a more uncertain 未来.

Acquisitive 貸す人s, low valuations and more 柔軟な neobanks could 提起する／ポーズをとる a 脅し to the 初めの wave of 挑戦者 banks - and could mean その上の consolidation 負かす／撃墜する the line.

Nationwide set to buy Virgin Money - could it be the start of a wave of dealmaking?

全国的な 始める，決める to buy Virgin Money - could it be the start of a wave of dealmaking?

What's happened to the first wave of 挑戦者 banks?

In the 1990s a new 肉親，親類d of 挑戦者 bank 現れるd, hoping to 混乱に陥れる／中断させる the big four banks - Barclays, HSBC, Lloyds Banking Group and NatWest.

同様に as Virgin Money and Tesco Bank, these 含むd Metro Bank, TSB, Aldermore Bank and Sainsbury's Bank.?

Two １０年間s later, a new wave of app-based banks like Monzo and Starling （機の）カム on to the scene - and there was real hope that both 伝統的な and 数字表示式の 挑戦者s could 混乱に陥れる／中断させる the market と一緒に one another.?

But it hasn't やめる worked out in that way.?

Some of the 中央の-tier banks have already been bought by bigger banks. TSB was acquired by Spanish banking 巨大（な） Sabadell in 2015, and South Africa's FirstRand snapped up Aldermore two years later.

Metro Bank, which 開始する，打ち上げるd in 2010, has been 疫病／悩ますd with 問題／発行するs which 最高潮に達するd in an 緊急 cash 注射 last autumn. It has since 発表するd that it will axe 1,000 staff as part of an £80million cost-cutting 運動.?

Like Virgin, Tesco and Sainsbury's entered the market in the 90s, hoping to use their 存在するing 蓄える／店 網状組織 to 申し込む／申し出 banking 製品s.

?In the late 90s the credit market was にわか景気ing, which 劇的な changed as we 攻撃する，衝突する the 財政上の 危機.?The 利益（をあげる）s that they 想像するd 支援する then have never materialised
?Alper Kara, professor of banking and 財政／金融 at Brunel University

But Tesco recently offloaded its banking 分割 to Barclays for £600 million, while Sainsbury's 計画（する）s to 身を引く from the banking market.

'The 利益（をあげる）s that they 想像するd 支援する then have never materialised,' says Alper Kara, professor of banking and 財政／金融 at Brunel University.

'One 推論する／理由 is that in the late 90s and 早期に 2000s the credit market was にわか景気ing, which has 劇的な changed as we 攻撃する，衝突する the 財政上の 危機 of 2007.?

'In the 地位，任命する-危機 period, the 資本／首都 必要物／必要条件s for banks' credit 危険 got much tougher, which made banking even more 資本／首都 集中的な and expensive.'

With even the 現職のs struggling to 伸び（る） ground as 利益／興味 率s reached historic lows, the likes of Tesco and Sainsbury's also 苦しむd.

Kara 追加するs: 'Other 中央の-tier banks are struggling to compete for the same 推論する／理由s. Virgin Money 欠如（する）d 規模. Metro Bank, running a very expensive 支店-based service, 苦しむs from high cost to income 割合s, denting its 利益（をあげる）s.'

> What will the Virgin Money sale mean for 顧客s??

Why did the 挑戦者s fail to 混乱に陥れる／中断させる banking?

The 挑戦者s 港／避難所't 配達するd on their 約束, and in 最近の months the big four banks have gone from strength to strength.

As 競争 for deposits grows, the challenging 経済的な 背景 has favoured the big banks and their big balance sheets.?

They can also better 吸収する the rising costs associated with anti-詐欺 and anti-money laundering 規則.

Kara says: 'At its 核心, the banking 商売／仕事 is about economies of 規模 and 要求するs large 資本／首都 （軍隊などの）展開，配備.?挑戦者 banks, which are not a uniform group, do not seem to have enough of either.'

Every little helps: Barclays is set to buy Tesco's retail banking business in a deal worth £600m

Every little helps: Barclays is 始める，決める to buy Tesco's 小売 banking 商売／仕事 in a 取引，協定 価値（がある） £600m

The sheer size of the 遺産／遺物 貸す人s means it is harder for small and 中央の-sized banks to 伸び（る） meaningful ground.

Ian Lance, 基金 経営者／支配人 of 寺 妨げる／法廷，弁護士業 投資 信用, which 持つ／拘留するs 株 in NatWest and Barclays says: 'The 適切な high regulatory oversight of the banking 部門 現在のs a challenge for new companies to take meaningful 株 from 現職の banks, perhaps 絶縁するing banking from the 脅し of obsolescence more than in some 部門s, where 競争 is fiercer and 障壁s to 入ること／参加（者） lower.

'Whilst 消費者s will frequently switch between broadband providers or 公共事業（料金）／有用性 companies, 研究 has 明らかにする／漏らすd that British 国民s rarely switch bank accounts, even if unhappy with the service received'

Big banks keen to snap up more 競争相手s

The other 障壁 for 挑戦者 banks is ますます acquisitive banks as they finally see their 逮捕する 利益／興味 利ざやs and 利益（をあげる）s rise again.

Laith Khalaf, 長，率いる of 投資 分析 at AJ Bell says: 'Bank valuations are 現在／一般に low which encourages acquisitive behaviour, because the 買い手 can 選ぶ up 資産s at a knock-負かす／撃墜する price.?

'With 利益／興味 率 利ざやs also likely to 落ちる as 通貨の 政策 is 強化するd, banks may also be looking for ways to 支える their 収入s in the medium 称する，呼ぶ／期間／用語, and buying a competitor at an attractive price is a short 削減（する） to 有機の growth.

'Healthy balance sheets also create the necessary 条件s for a cash splash. There is a 限界 to how far activity can go without raising the alarm at the CMA, however.'

POPULAR MONEY SECTIONS
Search
宣伝
   

DON'T MISS

宣伝

貸付金s 返済s

Find out what 月毎の 支払い（額）s would be on a 貸付金 and the total cost over its lifetime, where 利益／興味 is 告発（する），告訴（する）／料金d 月毎の.

  • £
  • %
Get tips and advice for your borrowing needs

Visit our special Cards and 貸付金s section

Credit Card Reality Check Calculator

警告: This calculator does not factor in the time it would take to 返す a credit card 負債 where the 最小限 支払い（額） is calculated as a 百分率.

    Your Plastic 負債

    This calculator will show you just how long it's going to take you to （疑いを）晴らす your credit card balance if you don't wake up, 直面する reality, stop 支払う／賃金ing the 明らかにする 最小限 and start （疑いを）晴らすing this 刑罰の form of 負債. 普通の／平均（する） 率s are around 26.2% - many much higher.

  • £
  • %
  • £
  • years,
    months
    • Your 月毎の 支払い（額） is いっそう少なく than your 月毎の 利益／興味 料金
    （疑いを）晴らす your 負債 Quickly
  • £
  • %
Check our 一連の会議、交渉／完成する-up of the best credit cards

Best for spending, holidays, rewards or （疑いを）晴らすing your 負債s

宣伝
Sitemap 古記録 ビデオ 古記録 Authors Topics 索引 動きやすい Apps Screensaver RSS Text-based 場所／位置 Reader Prints Our Papers 最高の，を越す of page
Daily Mail Mail on Sunday This is Money
Metro Jobsite Mail Travel 割引 Codes - about us 割引 Codes FAQ
This is Money logo

This is Money is part of the Daily Mail, Mail on Sunday & Metro マスコミ group

dmg マスコミ 接触する us How to complain Advertise with us Contributors 条件 Subscription 条件 & 条件s Do not sell or 株 my personal （警察などへの）密告，告訴（状） Cookie Settings Privacy 政策 & cookies Cookie regulation logo
Home最高の，を越す
株