Banks must focus on relationships to regain trust
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Banks must focus on relationships to regain trust

Leading commercial banks are focusing on their approach to relationship management to reassure corporate customers that they are being listened to.

Illustration: Pixabay

Volatility in the banking sector over the last year – particularly among US regional lenders – has inevitably shaken some corporates’ faith in their banking partners.

More than 42% of mid-sized companies who responded to a recent Greenwich market pulse survey said they lacked confidence in their banks’ ability to weather economic uncertainty.

A similar percentage believed relationship managers should be more effective at articulating the full range of products and services available.

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Nevertheless, Scott Barton, managing director and head of corporate coverage at Lloyds Bank Corporate & Institutional Banking, reckons corporates are increasingly seeking the reassurance provided by working with a large international bank.

“Speaking to us and understanding the breadth of our product capabilities and sector expertise often ends up as the reason for us winning their mandate,” he says, adding that the bank has focused on building its business in two areas recently.

“The first is our US infrastructure and project-finance team, in recognition of the importance infrastructure projects – particularly renewables – will play in future economic prosperity,” Barton says.

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