Secure Trust Bank targets more SMEs with main market move
Secure Trust Bank Commercial Finance is targeting further growth in the business lending space as the bank moves from the Alternative Investment Market (AIM) to London’s Main Market.
The firm, which offers finance packages ranging from £500k to £30m, is now in a stronger position to offer more funding solutions to UK SMEs.
The announcement comes off the back of strong financial results for the wider group, which showed that business lending balances had more than tripled year on year in the first six months of 2016. The Commercial Finance arm has also quickly established itself as one of the top 20 providers of asset based lending in the UK.
Secure Trust Bank initially listed on AIM in 2011 in a £102m initial public offering, and has since made a number of strategic acquisitions and diversifications. Alongside consistent levels of organic growth, this has enabled the group’s market capitalisation to grow to well over £400m.
John Bevan, managing director at Secure Trust Bank Commercial Finance, said:
“Moving onto the main market is another very important milestone in our development. Secure Trust Bank has grown exponentially over the past few years, and we are proud to have contributed to the group’s success. Since launching in 2014, the Commercial Finance team has created a strong platform to realise its full potential and by working with accountants, brokers and private equity firms we are now in a good position to offer more bespoke funding solutions to our clients.”