30 September 2014

Tungsten gets green light for takeover of FIBI Bank

29 May 2014  |  1444 views  |  0 Source: Tungsten

The Board of Tungsten is delighted to announce that it has received approval from the UK's Prudential Regulation Authority for the formal change of control in relation to the acquisition of FIBI Bank (UK) plc ("Bank").

The fully UK authorised Bank will be re-named Tungsten Bank and commence offering supply chain finance.

Moreover, Tungsten has today begun providing invoice discounting services to selected US customers.

Edmund Truell, Chairman of the Bank, said: "We look forward to an exciting future, as Tungsten Corporation builds up a disruptive force in supply chain finance on a global basis. The combination of enormous flows of invoices; simple and transparent finance offers; and high grade credit risks should enable us to advance billions of pounds, dollars, euros and francs to suppliers on the Tungsten Network."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related company news

 

Featured job

to £90k base, double OTE
London, UK

Find your next job