UTB sees asset finance loan book surpass £200m

United Trust Bank’s asset finance division has seen its loan book exceed £200m for the first time in the lender’s history.

The asset finance business also revealed its originations rose by 136% in 2021, becoming the bank’s fastest growing division by business volume and headcount.

The lender aims to build upon its successful asset finance performance by continuing to grow its team, developing innovative products and investing in technology.

Last year, UTB hired 14 new members across sales, operations and credit for its asset finance division — this includes the appointment of Astrid Michael as head of sales, and Louise McIntosh as head of operations.

The lender also announced it had a greater appetite for transacting higher value loans up to £2.5m.

Nathan Mollett, head of asset finance at UTB (pictured above), said: “2021 was a very successful year for UTB’s asset finance business. 

“We more than doubled our new business lending year on year and we’ve grown the team in all departments. 

“We have great people working at all levels of the division, all equally committed to providing exemplary broker service and putting UTB on the map as one of the best specialist asset finance lender in the market.

“The technology we’re implementing this year is designed to further simplify processes and accelerate turnaround times without sacrificing that vital USP and we’re developing some exciting new products which will help brokers develop their businesses into new markets. 

“We are dealing with more brokers than we ever have before, so in addition to investing in technology, we are continuing to recruit experienced professionals to ensure we maintain those strong relationships and deliver the very best experience to brokers and their customers.”

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