Year to, and as at, 31 December 2010 Factoring sales financed
Factoring accounts Average factoring client turnover Average factoring advance Discounting sales financed Discounting accounts Average discounting client turnover Average discounting advance Total sales financed Total advanced Total client accounts Personnel headcount Client/Personnel ratio
Leumi ABL £93 million 50 clients £1.9 million pa £196,000 £927 million 80 clients £11.6 million pa £1.1 million £1.0 billion £98 million 130 clients 32 4.1/1 Paul Hird
Banks with a strong overseas flavour have long prospered in the UK and their customers with them though not a few have found it impossible to adapt to the culture and have gone home again after a few years.
Not this one though, it has cut its teeth in some of the
toughest UK business sectors and whilst the invoice finance operation is one of the newer ones it continues, maybe enhances too, the spirit of its parent. The successful invoice finance and ABL arm of one of the most entrepreneurial banks in the UK. The management team here has built a quality portfolio based upon an astute view of a business risk and an eye to growth and future prospects. There is a depth of experience here in the more complex forms of structured finance but an equal willingness to write factoring business too. Entry level is the £1m pa turnover business with growth prospects.
Call 01273 716200.
www.leumiabl.co.uk
Year to, and as at, 31 December 2010 Factoring sales financed
Factoring accounts Average factoring client turnover Average factoring advance Discounting sales financed Discounting accounts Average discounting client turnover Average discounting advance Total sales financed Total advanced Total client accounts Personnel headcount Client/Personnel ratio Lloyds TSB Commercial Finance £3.7 billion 6,065 clients £608,000 pa £56,000 £37 billion 3,473 clients £10.7 million pa £699,000 £41 billion £2.8 billion 9,538 clients 1,114 8.6/1
If any one UK bank could stand up and take the credit for pioneering invoice finance in the UK then Lloyds could make a very credible case. A part owner of International Factors that opened in England in the 1960s it might seem a strange direction for a famously conservative bank to take. Pragmatists might argue that it was a wholly logical step as it moved the greater, but sound, business risks from the bank to an operation better able to manage them. Currently seeking a new CEO following the departure of the very successful incumbent to a new position in the industry there is an incredible versatility here ranging from the quite small to the very large client. This is the one with more invoice finance clients than any
other UK operator. It inherited two trail blazing brands along the way, Alex Lawrie, probably the greatest name in factoring and TSB Commercial Finance, an innovator in discounting only propositions. Today the operation works closely with the bank in offering a range of state of the art business banking facilities. Despite its position, or maybe because of it, there is always a welcome for newcomers here and traditionally much new business has come from outside of the banking group. Certainly one to consider when more than just invoice finance, or asset-based lending, is part of the growth plan.
Call 0800 550022.
www.ltsbcf.co.uk Business Money – RSM Tenon June 2011 23
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