New Year, New Bank

Putting customer relationships first

The economic landscape has shifted, and the challenges faced by UK businesses today call for a new kind of bank - one that puts customer relationships at its heart.

Santander is fully committed with the products and expertise to support all UK businesses, from start-ups to corporates, developing a new way of banking that recognises the value of working closely with each customer, delivering unique, creative solutions that take their business forward.

Our dedication and commitment is demonstrated as follows:

• We recognise our own growth depends on that of our customers. In 2009, our lending to the Small and Medium sized Enterprise (SME) market increased by 20%, and we are aiming to build on this as the economy recovers.
• In 2009 we helped 80,000 customers start new businesses or expand existing businesses, offering unlimited fee-free banking for customers with a turnover of under £1m.
• As a committed supporter of the SME market, we are keeping our prices competitive. We take the time to price according to each customer’s unique risk/reward profile, so you can be confident you are getting a better deal for your business.
• We are constantly working creatively to deliver new, innovative products that meet the changing needs of UK businesses. For example, in October 2009 we acquired Liquidity Limited and now offer invoice discounting that helps businesses free up much-needed cash tied up in invoices.
• In 2009, we invested in strengthening our nationwide network to ensure businesses of all sizes benefit from our personal, local service, wherever they are. We have recruited an additional 100 Business Banking Advisers in our branch network and our aim is to continue our growth strategy in 2010 bringing finance expertise to your doorstep. In addition, to support businesses with a £1m + turnover, we recruited 116 new Relationship Managers and will recruit a further 50 of the best in market in 2010.
• We understand that SMEs are the lifeblood of the UK economy and deserve specialised support. We offer national coverage across the UK, through our Relationship teams, who with their specialist sector and local knowledge are able to support all businesses, demonstrating our belief that understanding our customers’ business, performance and aspirations is key to being able to offer the best solutions to their financial needs.
• Through our agreement with the European Investment Bank (EIB) and participation in the government’s Enterprise Finance Guarantee (EFG) Scheme, we are helping SMEs access these invaluable sources of finance. Find out more about the EIB and EFG Scheme by downloading our factsheet and reading how it benefited one of our customers.
• Our commitment to supporting SMEs and the local economy is evident in our Banking on Essex Scheme, a joint venture between Essex County Council (ECC) and Santander Corporate Banking. In 2009 an initial £30 million of new liquidity in loans was made available to viable local businesses within the Essex area.
• Our customers can be confident in our commitment to transparency. We will confirm the price at the start of any contract and not increase the price of existing lending during the agreed term*.
• Throughout 2009 we have offered consistently competitive rates that ensure the highest possible returns on our customers’ deposits. Our rates on unsecured lending have been equally competitive
• Instead of shutting up shop when times were hard, we readily took on the challenges our customers faced, supporting those in difficulty through both refinancing and restructuring lending.
• We appreciate different sectors require different banking solutions, which is why we offer specialist teams with an in-depth knowledge of sectors including Healthcare, Education, Social Housing, Real Estate, Local Authorities, Charities, Retail and Leisure.
• We want to continue celebrating the success of UK SMEs. We sponsored the 2009 SME of the Year Award at the National Business Awards. And, we will continually seek out business and sector specific awards to demonstrate our commitment and celebrate business success.

We are the bank that works hard to understand your business and devise creative solutions that help move it forward. We’re here for our customers in good times and bad and we tie our own success to that of our customers.

*Terms will only vary if there is a significant change in the ability of the customer to repay that requires the facility to be restructured.