Forecourt Trader - 30 years at the heart of the fuel retailing community

ACS welcomes retail banking report

08 June, 2016

A report into retail banking services by the Competition and Markets Authority (CMA) has been welcomed by the Association of Convenience Stores (ACS).

ACS supports the CMA’s provisional recommendations to encourage competition among retail banks, improve transparency in finance offers, and make it easier for businesses to compare and switch financial providers.

The ACS response notes that the sector has invested more than £600m in stores over the past year and turnover has grown by over 5%, yet over two-thirds (68%) of retailer investments are funded through private reserves and only 7% from banks. The submission details how the smallest operators in the market and unaffiliated independents are least likely to access finance through retail banks.

The submission also highlights attention on regular banking issues experienced by retailers that do not relate to direct access to finance. These include issues such as access to customer services, fee levels and communications of terms and conditions.

Keywords: ACS, investment, banking




  • Weekly
    Retail
  • Weekly
    wholesale
  • Daily
    Average
Weekly retail fuel prices: 12 August 2019
RegionDieselLPGSuper ULUL
East132.7964.90140.57129.31
East Midlands132.3882.90140.96129.04
London132.00142.39129.64
North East131.01141.52128.85
North West131.7261.90139.66128.96
Northern Ireland129.24135.57126.71
Scotland132.0552.70140.43129.27
South East132.9759.90141.37129.82
South West132.33140.93128.95
Wales131.33136.85128.40
West Midlands132.06141.78129.37
Yorkshire & Humber131.4669.57142.64128.74

Most read

As the Government is urged to publish its plans for E10 by the All Party Parliamentary Group (APPG) for British Bioethanol, would you welcome the introduction of E10 as the right next step in cutting automotive carbon emissions?