The British Bankers’ Association (BBA) is to merge with three other bodies to form a new group representing the UK finance sector.
The BBA will join the Council of Mortgage Lenders, Payments UK and UK Cards Association in a new trade association, after 94% of its voting membership found in favour of the proposal.
The move is in response to the proposed consolidation set out by The Financial Services Trade Associations Review, which considered the wide range of existing trade associations at a time of significant change in financial services, persistent low levels of customer trust, and new and diverse entrants to the industry.
Anthony Browne, BBA CEO, comments: “We look forward to working with the other trade associations and to providing a world class service for our members across the banking sector.”