Cambridge & Counties Bank opens office in Manchester

Specialist lender Cambridge & Counties Bank has expanded its UK footprint with the opening of a new office in central Manchester. This move is part of the bank’s strategic plan to enhance its support for regional clients and commercial finance brokers, particularly in the North West.

The new Manchester office marks the bank’s fifth location across the UK, joining other offices in Leicester, Birmingham, Bristol, and the recently opened asset finance-focused hub in Reading. The Manchester branch will serve as a base for a team of nine, led by Scott Barber, Regional Director and Head of Trading and Investment (T&I) for the North. The office will focus on facilitating T&I deals, which typically range from £500,000 to £3.5 million.

The bank’s decision to establish a Manchester office is in response to increasing demand in the North West, where funding needs have grown by approximately 8% year-on-year as of January 2024. The new branch aims to support businesses across key areas in the region, including Bolton, Liverpool, Salford, Wigan, and Manchester itself.

Scott Barber commented on the significance of the new office:

“We have invested in the office and new colleagues in this location as a sign of our long-term commitment and our desire to support SME businesses in the region. The North West continues to show strong resilience and economic development, and we think we are well positioned to serve SMEs and property professionals with our dedicated lending solutions.”

The new office includes a team of Business Development Managers and Regional Managers, who will focus on fostering relationships with commercial clients and financial brokers throughout the North West. The bank is also committed to contributing to local communities through volunteering and charity work, following the model it has established at its Leicester headquarters and other offices.

Cambridge & Counties Bank has experienced significant growth across the UK, registering its highest-ever level of gross new lending in the 2023 fiscal year, at £328 million—an increase of 6% from the previous year. The bank’s total customer loan balances rose to £1.106 billion, up 5%, with customer deposits reaching £1.155 billion, also a 5% rise.