“Mr Thomson, backed by US banking entrepreneur Vernon Hill, launched Metro Bank in 2010. It was the first award of a new full banking licence since the 19th Century, underlining the barriers to entry that new competitors face.  New entrants to the market have failed to loosen the grip of the ‘Big Five’ banks, which includes the taxpayer-owned Lloyds-Halifax brands and RBS-NatWest.  It was announced in March that new applicants for UK banking licences would face more ‘relaxed’ demands on the amount of capital they hold as part of plans to reduce barriers to entry and stimulate competition.”