The German challenger bank said that its "several hundred thousand" customers in the U.K. have until April 15 to withdraw money or transfer it to another account.
The Bank of England fined Citi $57 million for failing to properly report capital and liquidity levels at its European investment bank and other global operations.
Vernon Hill's U.K. bank sold $479 million of new stock and issued fresh details about its turnaround efforts. Those included plans to cease its controversial practice of purchasing design and branding services from a business owned by Hill's wife.
Royal Bank of Scotland's top banker will leave the state-backed lender within a year, in an expected move that potentially paves the way for a senior female executive to take his role.
Direct lenders are gearing up for more business in the U.K. as they see banks shrinking their sterling corporate loan books in the wake of Brexit-linked volatility and slower economic growth.
