Page 44 - TSB G Case Study

Pester announced plans to be “as aggressive as possible”
in disrupting small business lending and providing

entrepreneurs with the finance needed to grow their
firm.

To aid this he also confirmed the bank’s intention to

compete for one of the 15 grants from the RBS’ Capability

and Innovation Fund to finance its drive to shake-up the

small business lending space.

TSB’s intention is to offer something new to

entrepreneurs. If they receive one of the Challenger

Fund’s bigger grants from RBS then they will use every

penny of it to help support small businesses and to make

it as uncomfortable as possible for the big five it was

claimed.

“We see ourselves as a challenger bank with

teeth and we will be as aggressive as possible

when it comes to small business lending.”

Part of TSB’s intention is to also renew its calls for the
CMA to take action to make it easier for challenger banks

to take on the established players.

“We want all bank customers to know what

they’re paying for their banking; all customers –

including overdraft users – to be able to switch

easily; and all customers to be aware of their

right to switch banks. Only then will competition

really start to work and the culture of UK banks