UK Audi Bank?

[Ian.Haseltine@arcadiagroup.co.uk]

     In this mornings papers,
     
     "German car-maker Volkswagen is to launch a range of UK banks named 
     after its VW, Audi, Seat and Skoda brands.
      Volkswagen Financial Services, which already provides 200,000 UK 
     motorists with car related financial services, hopes to be granted a 
     licence by the Bank of England before the end of the year.
      It already runs one of the largest direct banks in Germany, the 
     Volkswagen Bank GmbH, which has deposits of more than GBP1 billion 
     (UK).
      It plans to offer UK customers banking via the telephone and 
     Internet. Services will include loans and deposit schemes.
      This month VW opened a bank in Beijing and similar enterprises are 
     planned for Spain, France and the Czech Republic next year."
     
     
     
     Jim Haseltine