United Trust Bank Expands Asset Finance in Scotland

United Trust Bank is set to bolster its presence in Scotland with a new business development manager.

• The bank aims to forge new relationships with brokers in Scotland, focusing on small and medium-sized enterprises (SMEs).
• Scotland’s diverse economy presents vast opportunities in asset finance, especially in agriculture, construction, and logistics.
• UTB’s move reflects a response to the underserved asset finance market in Scotland.
• The bank seeks to offer flexible finance solutions and direct access to decision-makers in the region.

United Trust Bank is expanding its asset finance operations into Scotland, a strategic move marked by the appointment of a dedicated business development manager located within the region. This development is aimed at enhancing UTB’s engagement with local brokers, specifically targeting small and medium-sized enterprises (SMEs) throughout Scotland.

The intention behind this expansion is to cultivate new relationships across various sectors within the Scottish economy. Notably, the bank already maintains connections with select brokers primarily surrounding the Scottish borders and the North of England. However, the aim is to optimise growth opportunities that Scotland’s economy offers.

The head of asset finance at United Trust Bank, Nathan Mollett, highlighted that despite Scotland’s robust economy, there is a notable lack of adequate service within the asset finance realm. Scotland, he noted, boasts the UK’s second-largest financial hub in Edinburgh, yet the market remains underserved in key industries such as agriculture, construction, and logistics.

According to Mollett, the capital-intensive nature of these sectors, coupled with a substantial presence of SMEs, creates a significant demand for asset finance solutions. By ensuring a local presence, UTB aims to deepen its understanding of the Scottish market and forge strong partnerships with area brokers, thereby providing versatile asset finance solutions. This initiative is further bolstered by commercial underwriting expertise and facilitated access to decision-makers within the bank.

United Trust Bank’s expansion into Scotland signifies a strategic response to the region’s untapped asset finance needs.