RBS sells branches to Church of England consortium

The Church of England is investing in a new High Street bank, aiming to bring ethical principles to the banking sector. This move follows its previous financial involvements, such as advocating for reform at Barclays and challenging payday lender Wonga. The new bank promises to support local businesses and cap bankers' bonuses, but its influence may be limited due to modest investment. The initiative seeks to reorient the banking industry's moral compass, though its success remains uncertain.

What is the primary reason for the Church of England's investment in a new High Street bank?

• To gain financial profit

• To expand its religious influence

• To return the ethos of service to banking

• To compete with other major banks

Which financial institution did the Church of England advocate for reform?

• HSBC

• Santander

• Barclays

• Lloyds

What is one of the promises made by the new bank to differentiate itself from competitors?

• Expanding internationally

• Providing free financial advice

• Supporting local small businesses

• Offering higher interest rates

What is the cap on bankers' bonuses promised by the new bank?

• 150% of their annual salaries

• 100% of their annual salaries

• 75% of their annual salaries

• 50% of their annual salaries

What is a potential challenge for the Church's influence in the new bank?

• Its investment is relatively modest

• Lack of experience in banking

• Opposition from other investors

• Regulatory restrictions