Changing Banks #2

One of our Breakfast Seminars in 2003 introduced us to a very clever company involved in agro-chemicals. As a 90% exporter to underdeveloped countries it was finding trading challenging and its bank relationship difficult in the aftermath of 9/11.

Notwithstanding the Owners’ business pedigree, the historical profits record of a business established some 30 years ago and the Owners’ success in building and selling a business in a related field, the bank which had been with the business for 30 years was not being supportive:

5 Relationship Managers in 3 years (the Owner did not even know the name of the latest incumbent)

High bank charges (40k on a £3.5m t/o business) which were exacerbated by the bank’s unwillingness to offset the client’s Dollar Account against its Sterling Account thus requiring unnecessary currency transactions & cost to bring both Accounts within facility. 

We introduced the client to Royal Bank of Scotland (RBS) for 2 reasons:

RBS was one of only two banks with the global reach to understand and adequately service this exporting business

Remarkably and crucially RBS had a local Business Manager who had stayed on the same territory successfully servicing the same client base for 7 years 

This was NOT an easy funding exercise & involved many months of:

  • Understanding the financial requirements in the minutest detail
  • Perseverance both with the client & the RBS Credit Committee

but eventually resulted in the client having more financial flexibility & the potential for halving his bank charges!! 


  • Know your bank
  • Know your local Business Managers within the bank

Attention to detail and perseverance earns respect and pays off