London Scottish Bank

Last updated
London Scottish Bank
Founded1875 (1875)
Defunct2010
TypePublic limited company (PLC)
Headquarters London, UK
Area served
United Kingdom
ProductsPersonal loans, credit cards, savings accounts, commercial lending
Key people
Parent: Arbuthnot Banking Group
Employees~250 (2008)

London Scottish Bank PLC was a British bank based in Manchester, specialising in subprime lending.

Contents

About

London Scottish Bank was a specialist financial services company that had been established for over a century. They had a nationwide network of high street branches.

The Group employed over 2,000 staff and operated in a range of markets, specialising in the provision of subprime and low income borrower loans. These services included consumer and commercial lending, secured and unsecured broking, debt collection and factoring.

In February 2008, the company announced they were stopping all lending. [1] In November 2008 the company entered administration. [2]

Robinson Way, the Debt Collection arm of London Scottish Bank was subject to a management buy out in August 2009.

References

  1. ↑ Wills, Chris (26 February 2008). "UPDATE 2-London Scottish to stop lending, restructure". Reuters . Retrieved 7 January 2010.
  2. ↑ Pagnamenta, Robin (1 December 2008). "London Scottish Bank Collapses". The Times . Archived from the original on 12 June 2011. Retrieved 7 January 2010.


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