Bank of Liverpool could provide huge boost to city region firms

Business leaders at city centre event hear Liverpool Mayor Joe Anderson outline plans for the bank which he says could potentially unlock millions of pounds of investment. Tony McDonough reports.

Liverpool Mayor Joe Anderson talks to local business leaders about his ‘Bank of Liverpool’ plan


Liverpool Mayor Joe Anderson says a ‘Bank of Liverpool’ could provide vital investment for firms across the city region, helping to create thousands of jobs.

This week the Mayor addressed an audience of business leaders at a city centre event to launch a debate on the bank plan.

He said: “We need to encourage innovation and investment to create growth across the city region.

“Recently, we have announced a £171m spend from the Single Investment Fund initiative through the Combined Authority which will leverage in a further £500m from private sector partners, creating more than 13,000 jobs.

“A Bank of Liverpool would potentially unlock further investment and support for the local SME market. That would be great news for the city and for the wider region.

“With devolution now established, it is an idea that is well worth exploring further.”

The event was organised by lobby group Downtown in Business and boutique finance company Currency Matters.

Jon Anderson, boss of Currency Matters, weighed into the debate, saying: “We think the time has now come for the Bank of Liverpool to be established.

“The appetite for regional challenger banks has support from across the political spectrum. Liverpool is built on innovation and entrepreneurialism.

“The Liverpool brand is internationally strong. The time for this project to take off is now.”

His view was backed by Downtown chief executive Frank McKenna, who added: “Access to finance is still the major barrier to growth for some of the finest businesses within our region.

“Regional knowledge of those businesses and local knowledge of the city and its markets is something that a Bank of Liverpool would bring – alongside a less risk averse approach to financing entrepreneurs.”

Downtown and Currency Matters will be calling a special summit to take forward the Bank of Liverpool proposals.

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