New UK banks grow faster than 'Big Five' rivals

London

BRITAIN'S new banks are achieving superior returns than larger rivals, picking up customers shunned by bigger lenders since the 2007-9 financial crisis, consultancy KPMG said on Friday.

Britain has seen the emergence of several new banks since the financial crisis, looking to pick up customers as bigger rivals slim down in order to bolster their balance sheets and meet tougher regulatory requirements.