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17 October 2011

Today, Monday 17th October 2011, Whiteaway Laidlaw Bank (WLB) has become Shawbrook Bank Limited. Shawbrook Bank is a specialist savings and lending bank, which does all of its lending through brokers and intermediaries. This new bank combines the savings and lending expertise of three financial businesses � WLB, Link Loans and the lending platform of Commercial First. Link Loans and the lending platform of Commercial First became part of WLB in August 2011 and March 2011 respectively. Stephen Johnson, New Business Director at Shawbrook Bank, said: �We are launching Shawbrook Bank in direct response to a need in the market for more flexible lending. Our straightforward, common sense processes will make it easier for brokers to win business, and will help to meet the needs of many credit-worthy SMEs and personal customers looking for a bank that can act quickly and efficiently when a loan is needed. �Brokers and other intermediaries are key to our business and we will be doing all of our lending through this channel. We want to help grow this share of the commercial and personal lending market.� continued Stephen. �Becoming Shawbrook Bank isn�t about throwing away any of our well respected heritage, it�s about using everything we have learnt to become even better. �Shawbrook Bank represents the next step in our evolution. But one thing that will always be important to us is to have brokers and intermediaries at the heart of our business.� Shawbrook Bank is committed to making it easier for credit-worthy SMEs to borrow, and has spent time listening to the needs of small business customers. In a survey of over 800 SMEs in the UK commissioned by Shawbrook, the bank found that: �Nine out of ten (89 per cent) SMEs believe the country�s banks fail to use common sense when they make decisions about business loan applications �Almost half (45 per cent) of SMEs feel that banks are too bureaucratic when dealing with small businesses �Only six per cent of SMEs feel confident that banks are clear and transparent in their dealings with small business customers Shawbrook operates a centralised business model, and distributes all its lending products through brokers rather than through branches. The bank makes pragmatic and sensible lending decision for each application, and is committed to processing commercial mortgage applications within 48 hours and secured loan applications within 2 hours of receiving them. For further information please visit www.shawbrook.co.uk

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