Date: 7 November 2016
Disclosure:
Prior to 1 April 2013 applications to become a bank were processed by the Financial Services Authority (‘FSA’). The information provided below is for the Prudential Regulation Authority’s (‘PRA’s') financial years to end-February. The data for 2016 is from 1 March to 3 October.
Not all applications received are concluded in the same financial year. When the PRA came into existence in 2013 there were a number of applications that had been received by the FSA prior to 1 April 2013 where a decision was reached post 1 April 2013. These decisions are incorporated in the data provided below.
Table subsequently corrected on 28 May 2021.
|
01/04/13 to 28/02/14 |
01/03/14 to 28/02/15 |
01/03/15 to 29/02/16 |
01/03/16 to 03/10/16 |
|
|
Applications |
6 | 6 | 9 | 8 |
|
Rejected / Refused |
0 | 0 | 0 | 0 |
|
Approved |
5 | 5 | 5 | 6 |
|
Withdrawn |
4 | 1 | 1 | 2 |
The PRA’s Annual Report includes information on the number of banks as well as the number of other types of firms that have been authorised by the PRA during the financial year.