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HSBC slumps as it defends Russia business and reports fall in profits

EconomyHSBC slumps as it defends Russia business and reports fall in profits



Starling Bank is valued at more than £2.5billion after bagging a chunk of investment to ‘build a war chest for acquisitions’.

The digital lender scooped £130.5million from its existing investors, who include Goldman Sachs, Fidelity Management & Research Company and the Qatar Investment Authority. 

Starling expanded rapidly during the pandemic, as it was one of the few banks handing out government-backed Bounce Back Loans which was open to new business customers.

It made its first acquisition last year when it snapped up buy-to-let lender Fleet Mortgages for £50million.

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