Challenger makes a move for bigger share of SME banking

SPANISH bank Santander has its eye on a bigger market share of the SME banking sector, and has launched a business support programme to encourage startups.

The bank’s Breakthrough programme is targetting fast-growth businesses that are “underserved” by the current market.

The launch was announced at the Santander SME Summit in Leeds on March 25th – part of Santander’s Breakthrough Moments Box UK tour taking place across 2015

Challenger bank Santander Corporate & Commercial announced a new suite of services and products for the country’s most ambitious businesses.

The launch is part of Santander’s plan to further disrupt and enhance the UK business banking market, and double its current SME market share to 10% by the end of 2016.

Santander has already helped firms such as the owners of Thai restaurant chain Chaophraya to expand, creating 120 jobs, and Linley & Simpson, as well as Hays UK have benefitted from the programme.

Harrogate Spring Water was connected with Saatchi & Saatchi through a Santander programme which led to them revamping the design of their products.

Trade missions are also on the agenda, with 11 already launched from Yorkshire.

The firm’s regional director for North and West Yorkshire Neil Williams said: “It’s no mistake launching our Breakthrough programme in Leeds, due to the high level of fast-growth SME’s in the region. We want to be a constant support, not just a fairweather friend.

“We have increased SME lending 17% each year in a market that is contracting 6% each year, and want to continue with that growth.

The Santander Breakthrough programme has in the past been a well kept secret for a few businesses, but we want to make it available to a much bigger business audience.”

Marcelino Castrillo, head of SME at Santander Corporate & Commercial, said: “We have developed an unparalleled understanding of what the UK’s most successful and ambitious businesses need from a banking partner, and have brought this together into our new Breakthrough proposition.

“For example, the Trade Portal offers incredible insights into exporting opportunities while our unique Santander Universities and internships programmes are focused on connecting businesses with the right employees.

“Ambitious SMEs are the beating heart of the UK economy.”

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