24th Jul 2020 07:00
City of London Group PLC - finance investment firm - Says its subsidiary Recognise Financial Services Ltd has received its total capital requirement letter from the Prudential Regulation Authority which sets out the regulator's capital and liquidity requirements for Recognise. Adds that Recognise hopes to receive its authorisation with restriction as a bank soon. Once fully authorised, Recognise will offer financial services to the UK small & medium-sized enterprises sector and the personal & business savings markets. City Of London says it intends to raise new equity to finance its plans for Recognise.
Current stock price: 90.00 pence
Year-to-date change: down 33%
By Ife Taiwo; [email protected]
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