Scotland’s first bank solely dedicated to small and medium-sized business lending has been granted a banking licence by the UK Prudential Regulatory Authority and the Financial Conduct Authority.
Headquartered in Glasgow, Alba was Authorised with Restrictions on 9 March, allowing it to move into mobilisation.
This restricts carrying out the regulated activity of accepting deposits. The aggregate amount of deposits held by the firm at any time may not currently exceed £50,000.
