World Economy

AIB Lending in Britain Up 54%

AIB Lending in Britain Up 54%AIB Lending in Britain Up 54%

Allied Irish Bank has increased its new business lending in Britain by 54% year-on-year to £768 million ($1.16 billion) in the first half of 2015. Gerard O’Keeffe, head of Allied Irish Bank (GB), said this reflected the success of its relationships with owner-managed businesses, NewsNow reported. “We have adjusted our business to deliver what owner managers say they want most–personal relationships with expert managers, clear and consistent advice and support, and strong networks in local business communities,” he said. To support the bank’s growth, AIB has also recruited six relationship managers across Britain since the beginning of the summer. It has also begun the process of appointing five new regional directors to lead its growth in Britain and has invested in updating its IT platforms to the latest technology across all its locations by the end of October 2015. AIB’s unit in Britain operates as a specialist business bank, primarily focused on owner-managed businesses. It also operates a corporate banking team focused on the mid-market.