The Treasury is to host challenger bank bosses for a post-Brexit summit

Mark Sands
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City minister Simon Kirby will meet with challenger banks for the first time (Source: Getty)

Challenger bank bosses will head to Whitehall tomorrow to lobby the Treasury for better treatment for small institutions.

In their first talks since the UK's Brexit vote, lenders will meet City minister Simon Kirby today.

According to Sky News, bosses from banks including Aldermore, OneSavings Bank, Secure Trust Bank and Shawbrook will all attend.

The banks are expected to press for more proportionate regulation in the aftermath of the referendum.

The summit comes months after the challengers slammed a report from the Competition and Markets Authority for failing to tackle structural issues preventing them from taking on the banking giants.

Read More: How nine challenger banks reacted to the CMA's banking report

And the bosses of seven challengers wrote to Treasury Committee chair Andrew Tyrie in the week after the Brexit vote to demand a “level competitive playing field”, arguing that current capital rules are restrictive on smaller players.

A Treasury spokeswoman said: “We regularly meet stakeholders on a wide variety of policy areas.”

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