Redwood Bank up and running for Warrington

摘要

The first bank part-owned by a council has opened for business. Warrington BC has a 33% stake in Redwood Financial Partners, the company that wholly-owns the business bank. The council has approved a £30m investment as part of the bank's capital funding. Deputy leader and executive board member for corporate finance, Cllr Russ Bowden, said the council was gaining a 'fantastic reputation' for its 'innovative financial practices,' which he claimed were supporting the growth of the local economy and helping the council protect services.