- City of London Group's wholly-owned subsidiary Recognise has successfully been awarded a banking licence from the PRA and FCA.

This licence is a strategic development for the investment company which it calls a 'major step' in its service of SMEs.

Recognise is well advanced in its readiness to meet mobilisation conditions that will lead to the removal of the deposit restriction.

It currently expects this could be as early as the end of Q1 2021

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