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Secure Trust Bank
Secure Trust Bank is a British retail and commercial banking group listed on the London Stock Exchange, where it is a constituent of the Main Market. History The bank was established in 1952 as Secure Homes Limited and became a subsidiary of the Arbuthnot Banking Group in 1985. The company became Secure Trust Bank PLC in 1994 and was floated on the London Stock Exchange in an initial public offering in November 2011. In 2015 the bank launched an asset finance division to enable it to offer lending to businesses. In 2016 the Arbuthnot Banking Group reduced its majority stake from 51.9% to 20%, for about £145 million. Later that year, the bank sold its consumer lending business Everyday Loans, reducing its position in UK's unsecured personal loan market. In January 2021, Secure Trust Bank announced that CEO Paul Lynam would be stepping down with immediate effect, to be replaced by David McCreadie, a former Managing Director at Tesco Bank. In May of 2022, Secure Trust Bank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbuthnot Banking Group
Arbuthnot Latham & Co is a private and merchant bank based near Moorgate in the City of London. It has the status of one of the 12 accepting houses. History Arbuthnot Latham was founded on 13 May 1833 by Alfred Latham and John A. Arbuthnot at 33 Great St Helen’s, Lime Street (near The Gherkin) in the City of London. Originally starting as a general merchant business, it soon began involving itself in finance and lending operations. In 1981 the Arbuthnot family's involvement with the bank ended, with its purchase by Dow Scandia; a consortium majority owned by the Dow Chemical Company. It was at this time that Henry Angest joined the bank. Shortly afterwards, Dow had sold Arbuthnot Latham. By 1990, the business had had four separate ownersCity AM. 14 November 2013 and the Arbuthnot Latham name had been retired. After successfully leading the management buyout of Secure Homes (later renamed Secure Trust), Henry Angest acquired Arbuthnot Fund Managers (and thereby the Arbuthnot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1952
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of The United Kingdom
Central bank The Bank of England is the central bank of the United Kingdom. The Big Four British banking has been highly consolidated since the early 20th century. Unlike some other major economies, the UK does not have a major stratum of independent local banks. The number of independent banks shrank further during 2008: Northern Rock was nationalised by the UK Government (and is now owned by Virgin Money), followed by Bradford & Bingley; Alliance & Leicester was acquired by Santander, who merged it into Santander UK. On 18 September 2008, Lloyds TSB plc entered into a confirmed agreement to take over HBOS plc, which took effect on 19 January 2009, when HBOS was acquired and folded into Lloyds Banking Group. The retail and commercial banking markets are dominated by HSBC, Barclays, Lloyds Banking Group, NatWest Group and Spanish-owned Santander UK (most of these companies operate more than one banking brand in the UK). Banks incorporated in the UK A full list of busi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Invoice Finance
Factoring is a financial transaction and a type of debtor finance in which a business ''sells'' its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount.O. Ray Whittington, CPA, PhD, "Financial Accounting and Reporting", Wiley CPAexcel EXAM REVIEW STUDY GUIDE, John Wiley & Sons Inc., 2014 A business will sometimes factor its receivable assets to meet its present and immediate cash needs.The Wall Street Journal, "How to Use Factoring for Cash Flo small-business/funding. Forfaiting is a factoring arrangement used in international trade finance by exporters who wish to sell their receivables to a forfaiter.Please refer to the Wiki article forfaiting for further discussion on cites. Factoring is commonly referred to as accounts receivable factoring, invoice factoring, and sometimes accounts receivable financing. Accounts receivable financing is a term more accurately used to describe a form of asset based lending against accounts receivable. The Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset Finance
A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. Basically a lease agreement is a contract between two parties: the lessor and the lessee. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree to the condition that the car will only be used for personal use. The term rental agreement can refer to two kinds of leases: * A lease in which the asset is tangible property. Here, the user '' rents'' the asset (e.g. land or goods) ''let out'' or ''rented out'' by the owner (the verb ''to lease'' is less precise because it can r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Finance
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general."Real estate": Oxford English Dictionary online: Retrieved September 18, 2011 In terms of law, ''real'' is in relation to land property and is different from personal property while ''estate'' means the "interest" a person has in that land property. Real estate is different from personal property, which is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, tools and the rolling stock of a farm. In the United States, the transfer, owning, or acquisition of real estate can be through business corporations, individuals, nonprofit corporations, fiduciaries, or any legal entity as seen within the law of each U.S. state. History of real estate The natural right of a person ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Finance
In the United States, commercial finance is the function of offering loans to businesses. Commercial financing is generally offered by a bank or other commercial lender. Most commercial banks offer commercial financing, and the loans are either secured by business assets or alternatively can be unsecured, where the lender relies on the cash flows of the business to repay the facility. Assets used to collateralize commercial finance loans include: * Real estate * Receivables from invoices * Equipment or supplies While qualifying for financing is generally easier for large, well-established companies, some small businesses can qualify for commercial financing from the Small Business Administration (SBA). The SBA may provide either financing or insure a lender who takes a risk on a smaller company to provide commercial finance. Businesses can also seek the assistance of Commercial finance advisors in the structuring and sourcing of commercial finance. These are known as Independent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Point Of Sale
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but can also be dispensed with or sent electronically. To calculate the amount owed by a customer, the merchant may use various devices such as weighing scales, barcode scanners, and cash registers (or the more advanced "POS cash registers", which are sometimes also called "POS systems"). To make a payment, payment terminals, touch screens, and other hardware and software options are availabl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Contract Purchase
Personal contract purchase (PCP), often referred to as a personal contract plan, is a form of hire purchase vehicle finance for individual purchasers, to both personal contract hire and a traditional hire purchase (buying on installments). Unlike a traditional hire purchase, where the customer repays the total debt in equal monthly instalments over the term of the agreement, a PCP is structured so that the customer pays a lower monthly amount over the contract period (usually somewhere between 24 and 48 months), leaving a final balloon payment to be made at the end of the agreement. The total borrowing is the same in both cases, and interest is payable on the entire amount (including the balloon payment on the PCP). The balloon payment is ideally structured so that it will be less than the value of the vehicle at that point in time, creating equity that may be used as a deposit on another vehicle purchase. The customer is the registered keeper and legal owner of the vehicle, whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hire Purchase
A hire purchase (HP), also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repaying the balance of the price of the asset plus interest over a period of time. Other analogous practices are described as closed-end leasing or rent to own. In other words installment means to let a thing without giving total price while payment will be given in a given time period. The buyer will pay monthly agreement installment. The hire purchase agreement was developed in the United Kingdom in the 19th century to allow customers with a cash shortage to make an expensive purchase they otherwise would have to delay or forgo. For example, in cases where a buyer cannot afford to pay the asked price for an item of property as a lump sum but can afford to pay a percentage as a deposit, a hire-purchase contract allows the buyer to hire the goods for a monthly rent. When a sum equal t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tesco Bank
Tesco Bank is a British retail bank which was formed in July 1997 (as Tesco ''Personal Finance''), and which has been wholly owned by Tesco plc since 2008. The bank was formed as part of a 50:50 joint venture between The Royal Bank of Scotland and Tesco, the largest supermarket in the United Kingdom. Tesco later acquired Royal Bank of Scotland shareholding, which resulted in the bank becoming a wholly owned subsidiary, and now operates under its own banking licence under the Financial Services Compensation Scheme. The bank offers a range of insurance, credit cards, loans, savings, mortgages and travel products. Tesco Bank also launched a current account in June 2014, but has since stopped accepting new current account applications, and all existing current accounts were closed in November 2021. A unique selling point of Tesco's banking products is that the bank is able to leverage its large customer base to cross-sell financial services products, as customers can accumulate Te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
