Cambridge & Counties Bank has set out plans to grow its footprint an expand its presence in niche asset funding segments.
The bank, owned by Cambridge’s Trinity Hall College and the local government’s pension fund, wants to operate across the entirety of the UK within a few years, up from around 40% of the country currently. It identified South Wales and the north-west as “key markets for growth”.
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It added it was looking to enter “niche lending markets in the asset finance sector”, starting with an additional product geared towards classic cars. The bank already provides classic car finance facilities between £63,000 (£71,422) and £1.5m, aimed at individuals as well as companies.
Simon Lindley, chief development officer at Cambridge & Counties, said: “We have enjoyed robust growth every year since our launch in 2012. However, this is based on offering specialist products to professional clients, all underpinned by our highly experienced team who understand their markets extremely well.
“Our model is working well and there is a huge opportunity for us to take it to more geographical markets around Britain, and develop new niche products aimed at property investors and the professional SME sector.”
Neil Fender, head of classic car finance, added: “We have developed a strong and unique proposition that we hope will be well received by this market.”
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