Tuesday 23 October 2018 4:46 pm

Brexit boost: Natwest pledges an extra £2bn to help businesses through EU divorce

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Natwest has tripled its funding to prepare British business for Brexit.

The bank has set aside an extra £2bn to support companies which rely on EU exports, labour or foreign exchange rates.

Read more: Philips warns no-deal Brexit will hit British manufacturing

The bank says it beleives nearly 2,000 of its customers could benefit from the funding, and will be contacted in the coming weeks.

Natwest has already approved £900m of the £1bn care package it announced in May this year.

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.

Read more: Sterling could certainly tank, but it won’t be due to Brexit

“The on-going Brexit process will also require businesses to think strategically and tactically about how to navigate what is still an uncertain period ahead.

“We are committed to helping UK businesses access the right financing products so they can meet their short and longer term trade and working capital needs – whatever the outcome of the Brexit process.”

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