Frequently asked questions

How are you going to be different and better than what I have now?

NBNK will focus on establishing a new bank for retail and small business customers – there will be no investment banking to distract us from this mission.

We think it’s time for a new way of banking where all customers receive high quality services. Our new bank will be an integrated part of the local communities it serves. We will make banking a better experience for customers, as our branch managers will have greater independence and flexibility when making the best decisions for them. Our people will be rewarded for the quality of service they give and will offer customers the products that most suit them without any of the usual ‘hard-sell’ tactics.

NBNK is currently not a bank. What experience do you have and can I trust you?

Our senior management team is highly experienced and well respected. Our CEO is Gary Hoffman who in 2008 took on one of the toughest challenges in retail banking when he joined Northern Rock as Chief Executive and was responsible for its rescue, stabilisation and restructure. Having a knowledgeable board headed by Lord Peter Levene and supported by, among others, Sir David Walker and Lord McFall who conducted a review of UK banking governance in 2010, means we are in safe and experienced hands.

In addition, we have long-lasting and committed backing from some of the largest pensions, insurance and investment funds in the UK, which gives us the confidence and resources that we need to establish a new and secure bank.

Will your bank be called NBNK?

When we launch we will have a new name, one that will capture our fresh approach to banking.