# Wyelands Bank launches market-leading savings account to support trade, industrial growth and job creation
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-09-02
Category: BANKING
Category URL: https://financedigest.com/category/banking
Meta Title: New Wyelands Bank Savings Account for SMEs
Meta Description: Discover the new savings account dedicated to helping small and medium businesses grow, trade, and create jobs. Get strong rates and human touch at Wyelands
URL: https://financedigest.com/wyelands-bank-launches-market-leading-savings-account-to-support-trade-industrial-growth-and-job-creationhtml

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A new bank, set up to help small and medium businesses, has launched a market-leading savings account.  It is available from [www.wyelandsbank.co.uk/savings](http://www.wyelandsbank.co.uk/savings) from Thursday 31 August.

New saving deposits will help the bank provide industrial, trading and manufacturing businesses with greater access to working capital, to help them trade, grow and create jobs.  Since opening its doors at the start of the year it has already provided approaching £200m in business finance.

Wyelands [Bank will fill a vital gap](https://www.financedigest.com/how-can-banks-overcome-the-tech-trust-gap.html "How can banks overcome the tech trust gap?") to meet demand from business to fund expansion.  Its initial services include receivable, inventory, supply-chain and trade finance.

Iain Hunter, CEO, said: “Wyelands Bank will be great for growing businesses, [job creation and for the UK economy](https://www.financedigest.com/younger-chinese-are-spurning-factory-jobs-that-power-the-economy.html "Younger Chinese are spurning factory jobs that power the economy").  By offering savings customers [strong rates](https://www.financedigest.com/stocks-fall-as-strong-u-s-payrolls-muddies-rate-bets.html "Stocks fall as strong U.S. payrolls muddies rate bets") of return, we will be able to support more growing businesses.

“We will get to know the businesses we support in person, give them direct access to decision makers and help them [plan for growth](https://www.financedigest.com/plan-c-uk-pm-johnson-not-planning-further-covid-rules-despite-omicron-growth.html "Plan C? UK PM Johnson not planning further COVID rules despite Omicron growth").  We will do [business with a human face, using our deep expertise in business finance](https://www.financedigest.com/is-it-risky-to-use-bridging-finance-for-my-business.html "Is it risky to use bridging finance for my business?"), not just algorithms and computer code.”

Wyelands Bank was established by British and international industrialist Sanjeev Gupta, and is part of his wider vision to promote the revival and growth of [industrial businesses](https://www.financedigest.com/metal-cans-and-glass-jars-market-demand-from-food-industry-to-grant-sustainable-business-prospects.html "Metal Cans and Glass Jars Market – Demand from Food Industry to Grant Sustainable Business Prospects ") in the UK.  The bank, as an entity regulated by the FCA and PRA, is owned, [governed and operated independently of Mr Gupta’s industrial businesses](https://www.financedigest.com/uk-government-to-cap-energy-bills-for-businesses-bloomberg.html "UK government to cap energy bills for businesses – Bloomberg").  These comprise the informal GFG Alliance which consists of the Liberty House Group, and the Gupta family’s energy-related [operations in the SIMEC Group](https://www.financedigest.com/catering-group-sodexo-targets-operating-margin-above-6-in-2025.html "Catering group Sodexo targets operating margin above 6% in 2025").

Sanjeev Gupta said: “I believe strongly in the revival of [British industry](https://www.financedigest.com/struggling-british-pig-industry-calls-for-tesco-to-step-up.html "Struggling British pig industry calls for Tesco to step-up"), and Wyelands Bank will be a champion of those businesses which have vision and ambition.  In my view, Britain needs a [bank specialising in the industrial](https://www.financedigest.com/the-survival-of-the-banking-industry.html "THE SURVIVAL OF THE BANKING INDUSTRY") SME sector that will be a friendly source of finance to oil the wheels of industry, stimulate growth and create jobs.”


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