Reasons given for the de-banking of businesses include risk appetite, financial crime concerns and lack of information-sharing.

Chair of the Treasury Committee, Harriett Baldwin, said: ‘One of the most startling pieces of evidence emerging from our inquiry into Access to Finance for small and medium-sized business is the readiness of lenders to close business bank accounts with little or no notice.

‘Our Committee believes that any company engaged in a legal business activity in the UK should be able to find a bank to offer them a bank account.’    

Figures published by the Treasury Committee showed that 2.7% of businesses had their bank accounts closed.