More businesses choose Alliance & Leicester commercial banking

Mon, 27 Jun 2005

Commercial banking is going up at Alliance & Leicester, with an increasing number of businesses choosing its commercial banking and money services.

The bank has seen an increase of nearly a third more new business bank account openings in the first quarter of this year compared to the same time in 2004.

The value of cash sales also increased by 28 per cent with balances of business loans rising to over £4.7 billion.

The managing director of wholesale banking at Alliance & Leicester, Richard Bank said all core areas of the bank's business have seen growth.

However, the number of businesses choosing to bank with Alliance & Leicester commercial banking showed a significant increase.

"Our direct banking services, for businesses with a turnover of up to £1 million, offer a real saving compared with the traditional business banks and these have proved to be particularly popular," he said.

Six new Alliance & Leicester commercial banking business centres around the UK were launched earlier this year. These commercial banking centres offer specialist banking and money advice to businesses with turnovers of between £1 million and £10 million.

Mr Banks said this is because an increasing number of new and existing commercial banking customers have more complex banking and money requirements, and the bank wanted to respond to those needs.

Additional commercial banking centres would open next year.

Alliance & Leicester is one of the UK's major financial services groups. It offers a broad range of financial services to personal banking and commercial banking customers.

Alliance & Leicester is the UK's seventh largest bank, with around 5.5 million customers.

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