Clydesdale Bank owner targets massive growth in SME market

Clydesdale bank sign

CLYDESDALE Bank owner Virgin Money has said it expects to sign up another 100,000 small and medium sized enterprise customers after winning support under a controversial scheme to boost competition in the sector.

Glasgow-based Virgin Money has been allocated £35m in the latest round of Banking Competition Remedies (BCR) awards.

The remedies programme was introduced to encourage SMEs to move their accounts from the former Royal Bank of Scotland group to other lenders, but has fallen well short of its targets.

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