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Challenger banks blamed for tarnishing high street lenders' image.

Global Banking News-September 11, 2019--Challenger banks blamed for tarnishing high street lenders' image

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Global Banking News - 11 September 2019

Challenger banks such as Monzo, Revolut, and Starling have been blamed for tarnishing the brand image of traditional high street lenders.

Traditional lenders have lost a total of USD1.4bn in brand value over the last 12 months. Figures show that brands of nine of UK's biggest banks declined by an average of 7 percent last year. This means banks have lost a total of USD2bn of notional brand value.

The growth of challenger banks has been affecting the value of traditional banks.

It is believed that Barclays Plc (LSE: BARC) saw the biggest decline in its brand value among traditional high street banks.

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Publication:Global Banking News (GBN)
Date:Sep 11, 2019
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