LONDON, June 24 Britain's financial regulator is
talking to 25 potential new banks as part of moves to increase
competition within the sector, the country's economic secretary
said on Tuesday.
Lawmakers and regulators are keen to see challengers appear
to break the dominance of Britain's biggest four banks - Lloyds
Banking Group, Royal Bank of Scotland, Barclays
and HSBC - which account for more than
three-quarters of lending to individuals and small businesses.
"We are trying to make sure that it is much easier to set up
a new bank and to grow market share. Reforms should be as much
about competition as safety and stability," Andrea Leadsom,
economic secretary to the Treasury, said at a conference
organised by the British Bankers' Association.
(Reporting by Matt Scuffham; Editing by Steve Slater)