John Swinney, Scotland's Finance Secretary, has announced Scotland will soon see major new players enter its banking market.
He believes a whole range of new names will emerge as the European Union forces the existing banks to sell off assets as a result of their multi-billion-pound government bailouts 18 months ago.
"I think that is a good thing. It will mean greater competition propositions are available in the market".
Scotland has already gained new entrants into the market, including Tesco. Mr Swinney stressed such new players were already recruiting some of the workers to be laid off by the two big traditional state-owned banks, Lloyds Bank of Scotland division and the Royal Bank of Scotland.
Business groups are eager to see more banks and John Swinney has warned that low bank lending is putting Scotland's economic recovery at risk. One in three businesses that applies for credit is turned down and the Institute of Directors found its members were still struggling to access finance in the first half of this year - with many of those who tried to borrow finding they were expected to put up personal security.
RBS's chairman for business lending, admitted his managers were tougher with firms, insisting on going over their books, but also insisted the main reason his bank's loan book was 'broadly flat' was that businesses were not investing.
I'm not a banker but I've been in charge of my own finances since adulthood. In this whole report there is no mention of the individual saver. They're the people who create the cash flow for banks to lend - along with business who operate in profit - yet still they receive a pittance in interest on their savings. Banks currently offer us small savers no encouragement to save with them so why do we? Because we have little choice if we don't want to store our money under the floorboards or invest it in risky shares.
Having smaller branches of the multiples will do little for the average saver so I trust John Swinney is looking into reintroducing the type of bank which made Scotland a safe and trustworthy place to place your money - such as the Aidrie Savings Bank - and are able to realise that modern financial practice is not necessarily the best. There's no shame in returning to a banking system which worked and was well respected. Savers deserve better than what is offered today.