"I can't see why we would want to protest against the Bank of England unless it also gave the company a loan.
Huntingdon Life Sciences (HLS), which carries out cancer and other medical research on animals, will be given a bank account in an unusual move by the Department of Trade and Industry (DTI).
No commercial banks want to provide an account because of threats from extremists.
The government is thought to regard the nature of HSL's highly specialised research work as vital.
New legislation was introduced in May to curb the activities of animal rights extremists.
Earlier, in January, the government gave Cambridgeshire Police a £1m grant to meet the cost of covering demonstrations at Huntingdon Life Sciences.
Scientists' welcome
Dr Mark Matfield, president of the Defence Society for Medical Research, has welcomed the banking help.
He told The Independent newspaper: "This is a hugely important decision.
"Not only does it allow HLS to continue work but it shows that the Government is prepared to stand up to the intimidation by these extremists."
It was praised too by Professor Colin Blakemore, head of physiology at Oxford University.
He said the move was "essential" in the face of action that was "tantamount to terrorism".
"Frankly, I have not been in support of the notion that banks should have to stand up and have to fight the moral battle for the country as a whole," he told BBC News.
No target plans
Campaigners spearheading protests against HLS said they had no plans to target the Bank of England.
A spokesman for the Stop Huntingdon Animal Cruelty Campaign (SHAC) said they had campaigned only against banks with gave HLS money or loans, not those that simply offered a current account.
"I can't see why we would want to protest against the Bank of England
unless it also gave the company a loan.
"If HLS can't get banking facilities, that says something about people's view of them.
"Millions of companies and groups have current accounts.
"SHAC has a current account.
"What does it say about HLS if they can't get one?"
Members of SHAC have been targeting companies with links to HSL.
In April activists occupied the roof of offices of broker Charles Schwab Europe in Birmingham.
Activists' pressure
They also held protests at the firm's London branch.
Schwab later announced it was severing links with the research firm.
The financial institution was Huntingdon's last big private client stockbroker for its shares, following the withdrawal last March of its two remaining market makers following threats from activists.