United Trust Bank Asset Finance expands operations in Scotland

United Trust Bank Asset Finance announces expansion into Scotland, highlighting growth potential.

• Scotland’s asset finance market is currently underserved despite its robust economy.
• Appointment of a dedicated business development manager to enhance broker support.
• Focus on building strong relationships with SMEs across diverse sectors in Scotland.
• Aim to provide tailored asset finance solutions with local expertise and decision-making access.

United Trust Bank Asset Finance has disclosed plans to broaden its operations in Scotland, recognising significant growth opportunities therein. The announcement emphasises the need to address the underserved asset finance market in Scotland, which, despite its firm economy, remains untapped, particularly in financing solutions for small and medium businesses.

The bank has appointed a business development manager stationed in Scotland, aimed at improving support for brokers based in the region. This strategic move is intended to strengthen partnerships specifically with those brokers catering to the needs of small and medium enterprises (SMEs) operating in various sectors, from agriculture to construction and logistics.

Strong economic foundations in Edinburgh, noted as the UK’s second-largest financial hub after London, bolster this expansion strategy. Scotland’s diverse and dynamic industrial landscape offers vast potential for asset finance, with capital-intensive sectors poised for growth, thus necessitating increased access to flexible financial solutions.

Nathan Mollett, head of asset finance at United Trust Bank, remarked on the situation, stating, “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.” His insights underline the strategic importance of this move for the bank.

By embedding themselves within the local market, UTB aims to bridge the existing gap in asset financing by delivering specialised services. This entails leveraging commercial underwriting expertise and ensuring direct access to decision-makers, which is anticipated to markedly enhance service delivery and response times for brokers and clients alike.

United Trust Bank’s strategic entry into Scotland signals its commitment to facilitating better broker support and driving growth within the nation’s asset finance sector.