London Scottish Bank
Encyclopedia
London Scottish Bank PLC was a British
bank
based in Manchester
, specialising in subprime lending
.
The Group employed over 2,000 staff and operated in a range of markets, specialising in the provision of subprime and low income borrower loans. These services included consumer and commercial lending, secured and unsecured broking, debt collection and factoring.
In February 2008, the company announced they were stopping all lending. In November 2008 the company entered administration.
Robinson Way, the Debt Collection arm of London Scottish Bank was subject to a management buy out in August 2009.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
based in Manchester
Manchester
Manchester is a city and metropolitan borough in Greater Manchester, England. According to the Office for National Statistics, the 2010 mid-year population estimate for Manchester was 498,800. Manchester lies within one of the UK's largest metropolitan areas, the metropolitan county of Greater...
, specialising in subprime lending
Subprime lending
In finance, subprime lending means making loans to people who may have difficulty maintaining the repayment schedule...
.
About
London Scottish Bank was a specialist financial services company that had been established for over a century. They had a nationwide network of high street branches.The Group employed over 2,000 staff and operated in a range of markets, specialising in the provision of subprime and low income borrower loans. These services included consumer and commercial lending, secured and unsecured broking, debt collection and factoring.
In February 2008, the company announced they were stopping all lending. In November 2008 the company entered administration.
Robinson Way, the Debt Collection arm of London Scottish Bank was subject to a management buy out in August 2009.