July 22, 2017 3:17 PM ET

Consumer Finance

Company Overview of MBNA Limited

Company Overview

MBNA Limited provides credit cards in the United Kingdom. It offers balance transfer, money transfer, purchase, football, charity, airline, rewards, and low rate cards; and co-branded credit cards. The company also provides mobile services. MBNA Limited was formerly known as MBNA Europe Bank Limited and changed its name to MBNA Limited in November 2012. The company was founded in 1993 and is based in Chester, United Kingdom. MBNA Limited operates as a subsidiary of Fia Jersey Holdings Ltd. As of June 1, 2017, MBNA Limited operates as a subsidiary of Lloyds Banking Group plc.

Chester Business Park

Wrexham Road

P.O. Box 1004

Chester,  CH4 9FB

United Kingdom

Founded in 1993

Phone:

44 1244 672 251

Fax:

44 1244 673 402

Key Executives for MBNA Limited

Chief Executive
Compensation as of Fiscal Year 2017.

MBNA Limited Key Developments

MBNA Introduces New Balance Transfer Credit Card

MBNA has launched a new credit card to help customers consolidate their post-Christmas debts and card balances. The new offering, MBNA Balance Transfer Credit Card, provides up to 43 months at 0% on balance transfers, if the transfer is carried out at the start of the offer window. The cardholders will get £20 cash back when they transfer £1,000 or more in the first 60 days of opening an account. The users will have to pay a competitive 3.29% balance transfer handling fee for the card. Additionally, new customers can transfer money into their current account using the new credit card and pay no interest for a period of 20 months.

Lloyds Seeks To Acquire MBNA

MBNA Limited will potentially be Lloyds Banking Group plc (LSE:LLOY)'s first acquisition since being bailed out more than seven years ago, the Financial Times reported. Lloyds Banking Group Plc has emerged as the front runner to acquire British credit card issuer MBNA Ltd., the Financial Times reported November 20, 2016.

HSBC Expresses Interest in MBNA

HSBC Holdings plc (LSE:HSBA) joins Lloyds Banking Group plc (LSE:LLOY) and Santander UK Group Holdings plc, as well as private equity groups, in expressing an interest MBNA Limited, which has been put up for sale by Bank of America Corporation (NYSE:BAC). MBNA is valued at £7 billion.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 20, 2016
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