A NEW bank that is targeted at lending for farmers is set to be launched.

Oxbury, based in Chester, is reported to be aiming to focus on providing farmers with loans at a time when there has been difficulty in securing financial backing and comes against the backdrop of Brexit and possible disruption with European Union support.

The new lender is backed by agricultural investors led by crop protection company Hutchinsons and Frontier Agriculture, a grain supplier set up by Associated British Foods - which is also the owner of fashion chain Primark - and US commodities giant Cargill.