5 ms·
If I were a UK retail bank, I'd be deeply nervous.!!!
by spratzt 5y ago
If I were a UK retail bank, I'd be deeply nervous.!!!
- ricardo81 5y agoPerhaps Apple could buy the lot for cash at their current market cap.
- spratzt 5y agoI'm sure they could, but why bother? They don't need the very obsolete technology, obsolete business processes and obsolete management mentality of most existing banks. Much better to start with a greenfield site and acquire customers from there. Many people would drop their existing bank in a heartbeat if there were a viable modern alternative. Apple is in a perfect position to capitalize on this widespread dissatisfaction.
- ricardo81 5y agoIndeed. Just thought that they could potentially do that as telling.
- fumblebee 5y agoDepends if you're talking about neo-banks (Revolut, Monzo, Starling, etc.) or the high-street banks (Barclays, HSBC, Lloyds, etc.). Some of the neo-banks (less so, Revolut) would be a rounding error in Apple's market cap valuation. Relatively "cheap" for Apple, more feature rich than American alternatives, and for good measure wouldn't bring with them the legacy issues you mentioned that are associated with the dinosaur institutions.
- tobylane 5y agoWhen HSBC bought the Midland Bank, the UK government required HSBC to legally relocate here. The current cabinet are craven, but I expect they’d still require this, a deal breaker for Apple. https://en.wikipedia.org/wiki/Midland_Bank https://en.wikipedia.org/wiki/Midland_Bank
- deadfish 5y agoIf I were them I would be more concerned by Revolut, Monzo, Starling and Atom than Apple.