Local First is assisting with the implementation of a Community Banking model across the UK. By international comparison, the UK banking sector is unusually highly concentrated, with the top five banks accounting for over 90% of deposits. The problem of high concentration and lack of meaningful competition has been recognised over the past century by […]

The UK’s retail banking sector remains highly concentrated: as shown in the table below, the top 7 banks in the UK hold over 90% of deposits and loans. This causes severe problems for the economy and all of us, including boom-bust cycles, crises, inequality and lack of local jobs. More specifically: • In the event […]

The following is a conclusion of the above video interview. Businesses need cash to grow. Small firms usually depend on banks for their external borrowing. But large banks tend to be reluctant to work with small or medium sized businesses as it is often more efficient for them to provide loans to big businesses only. […]