In a strategic move to enhance service delivery to regional clients and commercial finance brokers, a specialist lender has opened a new office in central Manchester.
The newly inaugurated office is situated in Manchester’s Tootal Buildings on Oxford Street, marking the fifth office for the bank across the United Kingdom. The Manchester office will initially support nine members of staff and is headed by Scott Barber, the Regional Director and Head of Trading and Investment (T&I) deals for the North. T&I transactions, which involve funding deals ranging from £500,000 to £3.5 million, will be a key focus area.
The bank has observed an eight percent year-on-year increase in funding demand for the North West region up to the end of January this year. This surge in demand encompasses areas such as Bolton, Liverpool, Manchester, Salford, and Wigan, among others. The team at the new Manchester office will include Business Development Managers and Regional Managers, further strengthening the bank’s regional presence.
On a national scale, Cambridge & Counties Bank recorded its highest ever level of gross new lending in the fiscal year 2023, amounting to £328 million, which represents a six percent increase year-on-year. Total customer loan balances rose by five percent to £1.106 billion, and customer deposits also saw a five percent increase, reaching £1.155 billion.
Scott Barber conveyed the bank’s long-term commitment to the region, stating, “We have invested in the office and new colleagues in this location as a sign of our long-term commitment and our desire to support SME businesses in the region.” Barber emphasized the resilience and economic development of the North West, highlighting the bank’s dedication to serving SMEs and property professionals with tailored lending solutions.
Furthermore, the bank aims to support local communities through volunteering and charitable commitments, mirroring the values demonstrated at its Leicester head office and other locations. This community-focused approach underscores the bank’s holistic strategy in fostering regional economic growth.
The new office in Manchester represents a significant step in the bank’s strategic expansion, positioning it to better serve clients and contribute to the economic vitality of the North West region.