View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Bank Asset Finance
August 2, 2012updated 12 Apr 2017 4:06pm

Lloyds targets more lending with restructure

UK lender Lloyds TSB Commercial Finance has restructured its sales team in a bid to provide businesses with greater access to senior funders and target more of the asset-based finance market. Each of the banks regional teams will have three sales leaders who will focus businesses by size, targeting businesses with turnovers of up to £15m, £15m to £100m, and £100m and above. Ian Larkin, managing director for Lloyds TSB Commercial Finance, said the restructure will enable the banks asset-based finance sector to work more closely with divisions across the wider banking group to provide funding products which most closely fit companies individual requirements and growth strategies.

By Jared Fortune

UK lender Lloyds TSB Commercial Finance has restructured its sales team in a bid to provide businesses with greater access to senior funders and target more of the asset-based finance market.

Each of the bank’s regional teams will have three sales leaders who will focus businesses by size, targeting businesses with turnovers of up to £15m, £15m to £100m, and £100m and above.

Ian Larkin, managing director for Lloyds TSB Commercial Finance, said the restructure will enable the bank’s asset-based finance sector to work more closely with divisions across the wider banking group to provide funding products which most closely fit companies’ individual requirements and growth strategies. 

Larkin said: “These strategic changes are a positive move, allowing us to increase our focus on origination and support our ambitions to grow the market.

“They also offer many benefits for our valued customers and introducers.”

The latest statistics from the Asset Based Finance Association (ABFA) show that total advances to UK businesses in the first quarter of 2012 grew 4% to £15.4bn.

Lloyds TSB Commercial Finance, which according to ABFA has a 23.4% share of the asset-based finance market, said it hopes increasing the number of leadership roles will enable a more effective service to the growing market. 

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The leasing industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Leasing Life