Our approach to banking
In the business community, we have a reputation for providing an outstanding service to small and owner managed businesses across a range of sectors. What our customers and other business partners like about us is that we are a very straight-forward, no-nonsense traditional bank:
- We believe in offering our UK savers attractive, consistently competitive savings products with no hidden bonuses or rates that drop through the floor when you are not looking.
- We use these funds to support UK small and owner-managed businesses, providing a range of flexible products and services that can be tailored to suit most businesses.
- We support this with an attentive and responsive team of professional bankers who are experienced in their field and understand that every business is different, only recommending products that are suitable to your business.
- Our customers have access to a relationship management team, contact is proactive and frequent so that customer gets to know and trust the team. This approach ensures continuity, even if staff move on.
- We avoid red tape and our short communication lines means that we can provide our customers with quick decisions.
We put our longevity in this market down to our prudent approach to banking. We are profitable and liquid with our loans to customers at currently around 70% of our deposits. This means that we have no reliance on the wholesale markets for funding, it also means that we are very much open for business.
Our focus has always been on the small and owner-managed section of the SME market. These customers are not always well served by the larger banks where it is simply impractical or uneconomical to offer a truly personal relationship.
In our experience, what smaller businesses really want in the long run is a fair deal, responsiveness, consistency and reliability of relationship. In this respect, our relationship managers are key to any decisions we make in respect of our customers.
In building new relationships with brokers and customers, of course our UK heritage is important, as is the fact that we are UK authorised and regulated and members of the UK Financial Services Compensation Scheme. However, what really works for us is that we understand the needs of small businesses because, as far as UK banks are concerned, we are a small business too.