United Trust Bank’s asset finance unit will lift its activities across Scotland and plans to boost broker support by hiring a business development manager based in the country.
The bank says it has developed strong relationships with “a small number of brokers mainly serving small businesses in and around the Scottish borders and North of England,” but wants to grow its footprint across this area.
It intends “to establish a local presence, building new relationships with brokers serving small businesses operating in a wide range of sectors”.
United Trust Bank head of asset finance Nathan Mollett says: “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 small business presence, create substantial demand for asset finance solutions to support growth and development.
Mollett adds: “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.
