Local deposits fund local growth

22/5/09

When it comes to the crunch – Yorkshire Bank is thinking local

IN the current tough economic climate, when global forces are evident on every local High Street, Yorkshire Bank is re-confirming its commitment to South Yorkshire’s  business community.

The bank says its long-standing pledge to invest deposits made locally back into the local community as loans to South Yorkshire businesses remains as strong as ever.     

Yorkshire Bank is committed to helping South Yorkshire succeed by investing locally ‘pound for pound’ what it receives in deposits to improve the opportunities for local companies to secure finance and create jobs.

Managing partner of Yorkshire Bank’s South Yorkshire Financial Solutions Centre (FSC), Sheffield, Rick Warburton, says: “Through our pound-for-pound local commitment we will continue to play a key role in helping local businesses navigate today’s challenging economic climate.

“Ensuring locally-deposited money stays within the local economy means we can reinvest these funds to help the growth plans of other South Yorkshire businesses.”

During the last five years, South Yorkshire FSC has been able to invest £200m in local businesses including Bond Bryan Architects, Material Advantage Group and Industrial Ancillaries Limited.

Rick Warburton adds: “We remain fully committed to working in partnership with the businesses and communities we serve. This means local knowledge comes into play in our decision making process and, despite our global reach, we have never lost the mindset of being a local bank.”