Preparing to launch the Bank

As per our CEO, Greg Ellison’s communication to you last month, we are in regular discussion with the FSA working with them on a multi-phase approach to bring the new bank to market. Initially, we will bring some of Capital’s internal accounts on to the new banking platform before the end of 2020, so that we are live testing with our own money. Presuming that testing phase is successful, in January 2021 we aim to bring a small number of CTS clients into the bank and then extend this to the remaining clients that wish to become clients of CIB.