New Business Banking Centre underpins big growth target
HERITAGE Bank has unveiled a new Business Banking Centre and is planning to triple the size of its portfolio within the next two years.
Toowoomba
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HERITAGE Bank has unveiled a new Business Banking Centre in a prime Toowoomba CBD location, underpinning an ambitious plan to triple the size of its portfolio within the next two years.
Heritage CEO Peter Lock and Groom MP Dr John McVeigh jointly cut the ribbon yesterday to open the new offices under the bank's headquarters where Mary Ryan's Book Store once sat.
The opening coincides with the appointment of experienced banking executive Charlton Nevis to the newly created position of Head of Business Banking.
Mr Lock said the significant investment in fitting out the new Business Banking Centre demonstrated the bank's faith in the region's business community.
He said Heritage had operated a modest business banking division for a number of years, but there was "enormous potential" to expand its scope.
"It will be a relationship-based model … we want to understand the business, we want the relationship to build, and that's how we go about supplying loans, deposits and working capital solutions," he said.
"We're looking at tripling the size of our business banking over the immediate period, so we've got aspirations to move it to around $750 million over the next 18 months to two years."
Mr Lock said the extra resourcing for the Business Banking division would support growth not only in Toowoomba, but around the country.
Dr McVeigh congratulated the bank on its expansion, saying it was good news for jobs, confidence and small business investment in the region and across Australia.