14 May 2019
Investec awarded £15m to strengthen business banking proposition
Investec Corporate and Investment Banking (“Investec”) has been awarded £15m from Banking Competition Remedies Ltd (“BCR”) to support the development of its SME banking proposition.
Investec is a specialist bank with a strong, long-standing UK presence and an international network. It has been providing services to small and medium businesses (SMEs) in the UK for more than a decade with a focus on asset finance, invoice finance and treasury services, directly supporting more than 60,000 UK SMEs over the past five years alone.
Investec’s ambition is to build a trusted, scalable and client-centric SME banking proposition that will address the key needs that SMEs face throughout their lifecycles.
The BCR funding will allow Investec to accelerate the development of this offering to SMEs, which will include deposits, lending and other banking products.
As part of the award, Investec has committed to providing £300m of additional lending to UK SMEs and providing a range of innovative online tools to support businesses in the UK.
Chris Meyer, Head of Investec UK Corporate and Investment Banking commented:
“We are delighted to receive support from the Capability and Investment Fund (CIF), which recognises the exciting vision Investec has for creating more competition in the UK business banking market and ensuring that SMEs have access to first-rate banking services. Investec will match the CIF funding, providing at least £15m of its own funds to ensure an even bigger impact for SMEs.”
For more information, please contact:
Fatima Ismat, Lansons (PR agency for Investec CIB) - 020 7566 9709
Luke O’Mahony, Investec (Public Relations) - 020 7597 5261
Investec Corporate and Investment Banking
Investec CIB is an international corporate and investment bank working with growth-orientated companies, institutions and private equity funds. Our people set us apart – empowered, straightforward and invested in our clients’ long-term success. We provide capital solutions, advice and ideas, along with bespoke investment solutions and access to capital markets. Founded in 1974, The Investec Group has grown successfully through its client focussed approach and its ability to serve diverse and evolving financial needs.
This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604). Investec Corporate and Investment Banking is a brand name of Investec Bank plc, which is a member of the London Stock Exchange.
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.