Local Deposits Fund Local Growth

26/4/09

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 West Yorkshire’s business community.

The bank says its long-standing pledge to invest deposits made locally back into the local community as loans to  West Yorkshire businesses remains as strong as ever.    
 
Yorkshire Bank is committed to helping West Yorkshire businesses succeed by investing locally ‘pound for pound’ what it receives deposits to improve opportunities for local companies to secure finance and create jobs.

Managing partner of Yorkshire Bank’s West Yorkshire Financial Solutions Centre (FSC), Canal Road, Bradford, Andy Davidson, 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 West Yorkshire businesses.”

During the last five years,  West Yorkshire FSC has been able to invest more than £250m in hundreds of local companies in West Yorkshire including haulage business Expect Distribution which has just relocated into larger premises near to the M606.

Andy Davidson 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 and, in spite of our global reach, we have never lost the mindset of being a local bank.”