National Westminster Bank (NatWest) has tripled its funding to prepare UK firms for Brexit, setting aside an additional £2bn to support companies which rely on EU exports, labour or foreign exchange rates.
The bank said it believes almost 2,000 of its customers could benefit from the funding, and will be contacted in the coming weeks, with it having already approved £900m of the £1bn package it announced in May.
Commenting, NatWest head of commercial banking Alison Rose said: “To triple this initial figure to £3bn is tremendously exciting and we’re thrilled to be able to help British businesses keep growing.
“The on-going Brexit process will also require businesses to think strategically and tactically about how to navigate what is still an uncertain period.”
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