Lend more as savings grow
YORKSHIRE Bank has increased its business lending in the Tees Valley while across the region it has seen savings deposits grow - despite recent job losses and falling profits.
The bank, which employs 39 at its financial services centre in Thornaby, said lending had grown by 13% in the six months to last March 31, with deposits increasing 19%. In the Tees Valley, business lending grew by 2% over the last six months compared to 14%, representing £1.2bn of new money across the group which has 77 UK outlets.
Among the deals supported by the Tees Valley Financial Solutions Centre was the acquisition of a 40,000 sq ft cold store and depot in Glasgow by Newcastle-based David Price Food Services, which secured 32 jobs.
Chris Ibbotson, Tees Valley FSC managing partner, said: “These results clearly demonstrate how our traditional banking approach is helping local businesses to succeed. We are committed to supporting businesses in the towns and cities in which we operate.
“As a strong bank, our focus has always been on the traditional banking values that have served us well. As well as standing by our clients, we have a strong appetite for helping well run businesses grow and succeed.”
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