The expansion will increase its support of brokers with the appointment of a business development manager (BDM) based in the country.
The bank has strong relationships with a small number of brokers mainly serving SMEs in and around the Scottish borders and North of England.
It believes Scotland offers a significant opportunity for growth.
UTB aims to establish a local presence and build new relationships with brokers serving SMEs operating in a wide range of sectors.
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‘Significant opportunity’
Nathan Mollett, head of asset finance at UTB, said: “Although Scotland has its own significant economy, with Edinburgh the UK’s second-largest financial hub after London, the asset finance market in Scotland remains heavily under-served.
“Scotland’s diverse economy presents a significant opportunity for United Trust Bank, with well-established industries such as agriculture, construction, and logistics forming the backbone of the market.
“These capital-intensive sectors, combined with a strong SME presence, create substantial demand for asset finance solutions to support growth and development.
“By establishing a local presence with ‘boots on the ground’ possessing a deep understanding of the Scottish economy, we aim to build close relationships with brokers in the area and provide flexible asset finance solutions supported by commercial underwriting expertise and direct access to decision-makers.”
