Reliance Bank

Type – Private
Industry – Financial services
Founded – 1890
Headquarters – United KingdomLondon, United Kingdom
Key people – Ann Woodall(Chairman),Trevor Smith, Managing Director
Products – Financial services
Revenue – £10.2m (2009)
Operating income – £4.1m (2009)
Net income – £1.9m (2009)
Employees – 23 (2009)
Parent – The Salvation Army International Trustee Company (51%), The Salvation Army Trustee Company (49%)
Website – www.reliancebankltd.com

Reliance Bank Operations

Today, The Salvation Army Trustee Company and The Salvation Army International Trustee Company still retain sole ownership of the bank and each year receive an equal share of the Bank’s allowable profits (a total of 12 million pounds over the last 10 years). It is not only The Salvation Army which relies on the bank, but it is also used by many private customers, as well as other churches, charities, and businesses.

Reliance Bank’s emphasis is on customer care. They are committed to ethical banking and any investments are made within strict ethical boundaries. (Reliance Savings Bank for instance) Profits are used to further The Salvation Army’s evangelical and charitable work; including centres for the homeless, Hospitals, schools, homes for children & the elderly, health and educational programmes.

The bank’s logo is taken from the Salvation Army’s crest, and represents the light of the Holy Spirit.