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NatWest Cymru lends more than £250m to 20,000 Welsh businesses

NatWest Cymru lent more than £250m to Welsh businesses in 2018 and now supports more than 20,000 companies and start-ups throughout Wales.

In a year that saw it help a record number of start-ups and entrepreneurs launch their own businesses, 2018’s lending figures include more than £71m lent by the bank’s Business Banking division to support Welsh SMEs.

A further 300 entrepreneurs were supported by the bank’s Entrepreneur Accelerator in Cardiff, which saw increases in applications to both its pre-accelerator and accelerator programmes. Since its launch in 2016 the facility has helped more than 600 businesses.

Kevin Morgan, Director of NatWest Cymru Business Banking, said:

“2018 was a fantastic year for NatWest Cymru. We supported more people launching their own businesses and helped existing employers to grow their companies, which has always been our driving purpose as a bank.

“We know that 2019 will be a challenging year for Welsh businesses, but our commitment is there to support them with the funding and resources they need to confidently embrace the opportunities that will be presented.”

Barry Evans, Director of NatWest Cymru Corporate and Commercial Banking, added: “We have seen encouraging growth in our lending over the last 12 months, which is testament to the resilience of the Welsh economy and the businesses that are its backbone.

“We are optimistic for 2019; in the Welsh capital alone we have existing lending of over £500m supporting businesses that are thriving in the city. It is equally encouraging and evident of the wider entrepreneurial spirit in Wales that a further £1bn is supporting businesses outside of Cardiff, in the North and South, where our teams are working hard to ensure they have the support and finances they need.”