United Trust Bank Asset Finance aims to build on a record-breaking 2021
United Trust Bank (UTB) is aiming to build upon its record-breaking 2021 asset finance performance by continuing to grow its team, developing innovative products and investing in technology.
UTB’s Asset Finance business grew originations by 136% in 2021 to become the Bank’s fastest-growing division by business volume and headcount. The outstanding performance helped to push UTB’s asset finance loan book beyond £200m for the first time in UTB’s history.
14 people joined UTB’s Asset Finance team last year across sales, operations and credit with no fewer than 4 underwriters having joined UTB’s asset finance credit team since the start of 2021. Astrid Michael joined to become the new head of sales for asset finance whilst Louise McIntosh joined as head of operations.
Last year the Bank announced it had a greater appetite for transacting higher value loans up to £2.5m and intended to become the go-to funder for higher value car finance.
Nathan Mollett, head of asset finance – United Trust Bank, commented: “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 the best specialist AF lender in the market.
“UTB is one of very few funders which still encourage brokers to talk directly to our credit team and that’s certainly been a significant contributing factor to last year’s success. 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. Talking of which, we are dealing with more brokers than we ever have before so as well as 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. In 2021 we built a great team and set out our stall. Now watch what we do in 2022!”