Reliance Bank

Reliance Bank Limited
banking with people for people
Type	Private
Industry	Financial services
Founded	1890
Headquarters	London, United Kingdom
Key people	Ann Woodall, Chairman Trevor Smith, Managing Director
Products	Financial services
Revenue	£10.2 million (2009)
Operating income	£4.1 million (2009)
Net income	£1.9 million (2009)
Number of employees	23 (2009)
Parent	The Salvation Army International Trustee Company (51%) The Salvation Army Trustee Company (49%)
Website	www.reliancebankltd.com

Formerly known as The Salvation Army Bank, Reliance Bank Limited was founded in 1890 by William Booth. When Booth needed to attract investments to finance mortgages on property vital to the work of the movement, his response was to set up its own bank.

Today, The Salvation Army Trustee Company and The Salvation Army International Trustee Company still retain sole ownership of the bank and each year receive an equal share of the bank's allowable profits (a total of £12 million over the last 10 years). It is not only The Salvation Army which relies on the bank, but it is also used by many private customers, as well as other churches, charities, and businesses.

Reliance Bank's emphasis is on customer care. It is committed to ethical banking and any investments are made within strict ethical boundaries. Profits are used to further The Salvation Army's evangelical and charitable work; including centres for homeless people, hospitals, schools, homes for children and the elderly, health and educational programmes.

The Reliance Bank is not a clearing bank and uses the National Westminster Bank to act as its agents in this respect.

The bank's logo represents the light of the Holy Spirit.

Commercial and retail banks in the United Kingdom

Banking in the United Kingdom

Barclays	Barclays Bank Barclays Wealth

CYBG	Clydesdale Bank Yorkshire Bank

HSBC Holdings	First Direct HSBC Bank HSBC Private Bank M&S Bank

Lloyds Banking Group¹	Bank of Scotland Bank of Wales Birmingham Midshires Halifax Lloyds Bank

Royal Bank of Scotland Group²	Adam and Company Child & Co. Coutts & Co. Drummonds Bank NatWest Royal Bank of Scotland Ulster Bank Isle of Man Bank

Santander Group	Cahoot Cater Allen Santander UK

Wholly state-owned	National Savings and Investments UK Financial Investments UK Asset Resolution Bradford & Bingley³ NRAM³

Other	Airdrie Savings Bank Al Rayan Bank Aldermore Allied Irish Bank (GB) First Trust Bank Arbuthnot Latham & Co Secure Trust Bank Bank and Clients Bank of Ireland Butterfield Bank Cambridge & Counties Bank C. Hoare & Co Close Brothers Group The Co-operative Bank Smile Danske Bank Duncan Lawrie Handelsbanken Harrods Bank ICICI Bank UK Julian Hodge Bank Kingdom Bank Kleinwort Benson Metro Bank Monzo OneSavings Bank Post Office Money Raphaels Bank Reliance Bank N M Rothschild & Sons Sainsbury's Bank SG Hambros Shawbrook Bank Standard Chartered Tesco Bank Triodos Bank TSB Unity Trust Bank Virgin Money

"Big Four" banks are underlined and private banks are shown in italics ¹ 8% owned by UKFI ² 73% owned by UKFI ³ Mortgage assets only

This article is issued from Wikipedia - version of the 7/25/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.