Allica Bank, a leading digital bank in the UK, has announced its commitment to lending over Â£1 billion in 2022. This is a significant increase from the Â£500 million it lent in 2021, and it demonstrates the bank’s confidence in the UK economy and its commitment to supporting small and medium-sized enterprises (SMEs).
Allica Bank was founded in 2019 with the aim of providing SMEs with access to the financial services they need to grow and thrive. The bank offers a range of products and services, including loans, savings accounts, and business current accounts, all designed to meet the unique needs of SMEs.
The bank’s decision to increase its lending in 2022 is a response to the ongoing challenges faced by SMEs in the UK. The COVID-19 pandemic has had a significant impact on the economy, and many SMEs have struggled to access the funding they need to survive and grow. Allica Bank’s increased lending will help to address this issue and provide SMEs with the support they need to succeed.
Allica Bank’s CEO, Richard Davies, said: “We are committed to supporting SMEs in the UK, and we believe that increasing our lending in 2022 is the best way to do that. SMEs are the backbone of the UK economy, and we want to do everything we can to help them succeed.”
The bank’s commitment to lending over Â£1 billion in 2022 is a significant milestone for the company. It demonstrates its commitment to supporting SMEs and its confidence in the UK economy. Allica Bank’s focus on SMEs has already earned it a reputation as a trusted partner for businesses looking to grow and succeed.
In addition to its lending commitments, Allica Bank is also investing in technology and innovation to improve its products and services. The bank recently launched a new digital platform that makes it easier for SMEs to access its services and manage their finances. This platform has been well-received by customers and has helped to cement Allica Bank’s position as a leading digital bank in the UK.
Overall, Allica Bank’s commitment to lending over Â£1 billion in 2022 is a positive development for SMEs in the UK. It demonstrates the bank’s commitment to supporting businesses and its confidence in the UK economy. SMEs looking for a trusted partner to help them grow and succeed should consider Allica Bank as a top choice.