New office is set to serve SME and property professionals
Cambridge & Counties Bank has officially opened a new office in central Manchester, marking its fifth UK location. According to a news release, the expansion underscores the bank’s commitment to servicing regional clients and commercial finance brokers in the North West.
The Manchester office will house nine employees and will be led by Scott Barber, who is the regional director and head of trading and investment (T&I) deals for the North. The T&I deals, which involve funding transactions ranging from £500,000 to £3.5 million, will be a central focus of the new office.
This development comes in response to an 8% year-on-year increase in funding demand in the North West region, which encompasses areas such as Bolton, Liverpool, Manchester, Salford, and Wigan. The new office aims to meet the growing needs of SME businesses and property professionals in this economically vibrant region.
Cambridge & Counties Bank has also recently opened an asset finance-focused hub in Reading, expanding its reach across the UK. The bank reported its highest-ever level of gross new lending in the fiscal year 2023, amounting to £328 million, a 6% increase from the previous year. Total customer loan balances rose to £1.106 billion, and customer deposits grew to £1.155 billion, both up by 5%.
Scott Barber commented, “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. The North West continues to show strong resilience and economic development, and we think we are well positioned to serve SMEs and property professionals with our dedicated lending solutions.”
In addition to its business objectives, the bank plans to engage with local communities through volunteering and charity initiatives.
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