Clydesdale & Yorkshire Bank expands fleet services with new corporate asset finance team
According to reports, the firm will target listed companies and larger privately owned businesses with its corporate asset finance team, which will provide funding for assets including most types of vehicles.
Paul Shephard, divisional director, Clydesdale and Yorkshire Bank Corporate & Structured Finance, said: 'The launch of our corporate asset finance service recognises that larger companies often have more complex finance requirements. It allows us to build on our existing relationships with corporates and provide a service tailored to their needs.
'The new service also highlights the continued growth of Clydesdale and Yorkshire Bank Corporate & Structured Finance. Having become established as a key player in acquisition finance, we have also built a solid reputation in the corporate arena and over the past two years have participated in refinancing arrangements for some of the UK’s best known names. The launch of corporate asset finance follows that of corporate real estate as we continue to develop our offering.'
The news has been greeted by the BVRLA. Chief executive John Lewis said: 'We have been talking to Clydesdale and a number of other possible funders who are attracted to the risk profile and potential rewards offered by the vehicle finance sector.'