United Trust Bank is set to enhance its asset finance presence in Scotland, tapping into diverse economic opportunities.
- The bank is appointing a business development manager to spearhead this expansion.
- Currently, UTB has established connections with brokers in the Scottish borders and North of England.
- Scotland’s agriculture, construction, and logistics sectors offer significant asset finance opportunities.
- Nathan Mollett highlights the underutilised asset finance market in Scotland, pointing to growth potential.
United Trust Bank (UTB) is positioning itself to expand its asset finance operations in Scotland, recognising the varied economic landscape as a fertile ground for growth. With this strategic move, UTB is aiming to deepen its engagement by appointing a business development manager dedicated to the region. This decision aligns with UTB’s strategy to maximise burgeoning opportunities in a market that is yet to be fully tapped.
The bank’s current operations are supported by relationships with select brokers, particularly those focusing on small and medium-sized enterprises (SMEs) located around the Scottish borders and the North of England. By building on these pre-existing relationships, UTB intends to broaden its reach and offer its specialised services to a wider array of businesses across Scotland.
Scotland’s economy, known for its strength in agriculture, construction, and logistics, offers a promising backdrop for asset finance solutions. These industries, characterised by their capital-intensive nature, represent substantial demand for financing options that support business growth and infrastructure development. UTB is mindful of these dynamics and is strategically poised to respond to the financial needs of these sectors.
Nathan Mollett, head of asset finance at United Trust Bank, underscores the opportunity present in Scotland, 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 underserved.” His insight reveals a market ripe for targeted financial solutions, which are integral in facilitating economic development.
To effectively serve the Scottish market, UTB aims to deliver a localised experience characterised by on-the-ground presence and expertise. This approach ensures that they can cultivate robust relationships with local brokers, providing tailored asset finance solutions augmented by their commercial underwriting expertise and streamlined access to key decision makers.
UTB’s strategic expansion into Scotland’s underserved market reflects its commitment to leveraging regional opportunities for growth.
