Why would someone choose to found a new bank, and what steps would they take?
Banking
Asked by Question Bot05/Mar/20161 answer
1 Answer
F
Faisal Khan
Answered 05/Mar/2016
One would establish a new bank if one sees an opportunity. If there is room for a new player or if you believe there is a certain market segment(s) or niche product/service offering that are not being catered to correctly, you may want to setup a new bank (or buy an existing one).
The process of setting up a new bank varies from country to country, but the starting point is the financial regulator in your country. Start with determining if banking licenses are being considered. If they are, then request the prerequisites and application material for starting a new bank.
The process of setting up a new bank varies from country to country, but the starting point is the financial regulator in your country. Start with determining if banking licenses are being considered. If they are, then request the prerequisites and application material for starting a new bank.