19 April 2015

Tungsten gets green light for takeover of FIBI Bank

29 May 2014  |  1764 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

 

Top topics

Most viewed Most shared
UK banks covering up cybercrime losses - C...
6914 views 14 comments | 26 tweets | 13 linkedin
BBVA buys UX firm Spring Studio
6632 views comments | 33 tweets | 17 linkedin
Card is king as cash usage continues to fa...
6183 views comments | 22 tweets | 14 linkedin
Digital and core renewal to drive bank IT...
4880 views comments | 32 tweets | 25 linkedin
World Bank reports big drop in numbers of...
4871 views 10 comments | 37 tweets | 14 linkedin

Featured job

c.£70-100K base, commission + equity
London, UK

Find your next job