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Promoting competition in the UK banking industry

The BBA’s position on competition is clear. We support competition and want customers, both retail and business, to have choice both in the bank and the type of banking they want. More competitive markets allow customers to choose from a greater range of products to suit their needs from a wider variety of providers. More transparency will improve the efficiency of the market and lead to customers making informed decisions about whether to switch provider in order to get the best deal.

In this document we have canvassed the views of both established banks and challengers, with a variety of different business models. The common theme from them all is that they welcome competition and want the playing field to be fair to all.