United Trust Bank (UTB) Asset Finance plans to expand its activities in Scotland and increase its support to brokers.
It expects to appoint a business development manager (BDM) who will be based north of the border.
The bank has relationships with a small number of brokers mainly serving SMEs in and around the Scottish borders and North of England, but believes Scotland offers a significant opportunity for growth.
“the asset finance market in Scotland remains heavily under served”
Consequently, UTB aims to establish a local presence, building new relationships with brokers serving SMEs operating in a wide range of sectors.
“SUBSTANTIAL DEMAND”
Nathan Mollett, head of asset finance at United Trust Bank, commented: “Although Scotland has its own significant economy, with Edinburgh the UK’s second largest financial hub after London, the asset finance market in Scotland remains heavily under served.
“Scotland’s diverse economy presents a significant opportunity for UTB, with well -established industries such as agriculture, construction, and logistics forming the backbone of the market.
“These capital-intensive sectors, combined with a strong SME presence, create substantial demand for asset finance solutions to support growth and development.
“By establishing a local presence with ‘boots on the ground’ possessing a deep understanding of the Scottish economy, we aim to build close relationships with brokers in the area and provide flexible asset finance solutions supported by commercial underwriting expertise and direct access to decision makers.”
