Challenger banks discover they won't get far on their own | Nils Pratley

Virgin Money’s deal with CYBG makes commercial logic but it won’t reshape the banking sector So much for the post-crisis idea that the UK’s big four banks would be knocked off their comfortable perches by a combination of new technology and “challenger” banks. A decade on, it’s hard to detect a meaningful shift in market shares. Lloyds Banking Group, the undisputed leader in the UK, isn’t noticeably weaker for being shorn of TSB and last year got bigger