A new bank, focused on SME’s
City of London Group (AIM: CIN) is predominantly focused on lending to the SME market through its subsidiary, Recognise Bank.
In 2020, the Company raised £27 million to launch Recognise Bank which received AwR in November (the full licence should be received during the first half of this year). Recognise will target what the Board believe is the underserved but key SME market offering a relationship-led, digitally enabled proposition.
Recognise has a strong independent Board and an executive team with over 280 years’ experience of banking. In five years’, time it aims to reach 54,000 depositors and 5,100 borrowers.
The below video, highlights the Group’s core business and growth strategy