Banc Cambria is a proposed Welsh community bank currently under development and aimed to be operating in Wales by 2023.

Formation and structure

The Monmouthshire Building Society is working with the

Welsh Government The Welsh Government ( cy, Llywodraeth Cymru) is the Welsh devolution, devolved government of Wales. The government consists of ministers and Minister (government), deputy ministers, and also of a Counsel General for Wales, counsel general. Minist ...

and Cambria Cydfuddiannol Ltd (CCL) to form Banc Cambria by 2023. The aim will be to develop a community bank across all of Wales, with the provision of retail banking services by 2023. The Welsh Government has disclosed that 30 branches could be opened across Wales in the next decade. Social Minister for Wales,

Jane Hutt Jane Elizabeth Hutt MS (born 15 December 1949) is a Welsh Labour Party politician serving as Minister for Social Justice since 2021. She has served as the Member of the Senedd (MS) for the Vale of Glamorgan since 1999. A member of the Parliam ...

stated to

Senedd The Senedd (; ), officially known as the Welsh Parliament in English and () in Welsh, is the devolved, unicameral legislature of Wales. A democratically elected body, it makes laws for Wales, agrees certain taxes and scrutinises the Welsh Gove ...

members, "It's going to be a mutual owned by and run for the benefit of its members". Banc Cambria will aim to provide a full banking service across all of Wales and differently to other typical banks, it will be owned and ran by its own members rather than shareholders.

Naming

"Banc" in Welsh for bank, whereas "Cambria" is the

Latin Latin (, or , ) is a classical language belonging to the Italic branch of the Indo-European languages. Latin was originally a dialect spoken in the lower Tiber area (then known as Latium) around present-day Rome, but through the power of the ...

name for

Wales Wales ( cy, Cymru ) is a Countries of the United Kingdom, country that is part of the United Kingdom. It is bordered by England to the Wales–England border, east, the Irish Sea to the north and west, the Celtic Sea to the south west and the ...

, being the Latinised form of the

Welsh Welsh may refer to: Related to Wales * Welsh, referring or related to Wales * Welsh language, a Brittonic Celtic language spoken in Wales * Welsh people People * Welsh (surname) * Sometimes used as a synonym for the ancient Britons (Celtic peop ...

name for the country, .

References

External links

Banc Cambria on TwitterBanc Cambria on Facebook
{{Economy of Wales Financial services companies of Wales Banks of Wales