28 November 2015

Tungsten gets green light for takeover of FIBI Bank

29 May 2014  |  2017 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


Who is commenting?

Finextra Member Commented on: EPC publishes proposal...
Finextra Member Commented on: EPC publishes proposal...

Top topics

Most viewed Most shared
BBVA buys 29.5% stake in Atom for £45...
7749 views comments | 34 tweets | 41 linkedin
BNP Paribas to test contactless payment di...
6052 views comments | 17 tweets | 25 linkedin
Former Barclays chief forecasts massive jo...
5847 views comments | 27 tweets | 30 linkedin
Hilton confirms data breach
5339 views comments | 11 tweets | 17 linkedin
Alternative payment methods challenge plas...
5179 views comments | 21 tweets | 23 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job