Bank of London debuts as first new UK clearing bank in 250 years with global plans

Mark Battersby
clock • 7 min read

The Bank of London launched on 30 November as the UK's 6th principal clearing bank, becoming the first in a long time with immediate global plans and the second in 250 years as a brand new clearing bank.  The new bank enters the market with a $1.1bn valuation, making it the first pre-revenue bank in history to attain 'unicorn' status upon debut. As part of its international growth strategy currently underway, the bank said it is in advanced talks with regulators in the European Union and North America. It further said that it was on track to hire over 3,000 people across the UK, EU...

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