Contact
Search
Created with Snap

Popular searches

12 Jan 2024

Update on Investec’s business banking proposition

Following our announcement in May 2019 that Investec Corporate and Institutional Banking (“Investec”) had been awarded £15m from Banking Competition Remedies Ltd (“BCR”) to support the development of its SME banking proposition, we are pleased to announce that we have met three out of the five commitments we made as part of the award. Updates on the great progress we have been making can be found below.

 

Commitment 1: We will provide £300m of additional lending to UK SMEs

We are on track with this commitment.

We have continued to enhance our online lending proposition, leveraging our already strong and established presence in the SME lending market. To date we have lent over £273M to 9,465 SMEs.

 

Commitment 2: We will directly support more than 8,000 SMEs

We have met this commitment.

We are currently supporting more than 8,000 SMEs through our new product offerings as we continue to develop new, and enhance existing, product offerings across our propositions to directly support UK SMEs.

 

Commitment 3: We will match the contribution from the CIF with our own funds

We have met this commitment.

Our Investment into propositions within scope of the BCR programme has more than matched that of the contribution from the Capability and Innovation Fund.

 

Commitment 4: We will directly create 40 new jobs

We are on track with this commitment.

We have directly created 39 roles to date, covering several essential product and technical delivery roles.

We continue to partner with a specialist SME to leverage their core offering that combines a wide range of data services to create a rich stream of data and information to deliver a stream of intelligent insights for our Working Capital clients.

 

Commitment 5: We will help SMEs leverage online tools and technology

We have met this commitment.

We are confident that our digital product offerings, coupled with our unique high-touch strategy where our clients have access to dedicated product specialists and relationship managers, will allow us to deliver on our commitment to deliver a truly differentiated banking experience to support SME growth across the UK.

For more information

Please visit our Media hub for our team's contact details.

About Investec

This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604). Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Investec partners with private, institutional, and corporate clients, offering international banking, investment and wealth management services in two principal markets, South Africa and the UK, as well as certain other countries. The group was established in 1974 and currently has approximately 8 200+ employees. Investec has a dual listed company structure with listings on the London and Johannesburg Stock Exchanges.