Airdrie Savings Bank hails successful business road show

STV
Airdrie Savings: Roadshow hailed a success

Bosses at Airdrie Savings Bank say they are "delighted" with the response from their first Edinburgh road show.

Scotland’s last independent bank reported several approaches by both personal and business customers at the road show which was held in conjunction with the Edinburgh Chamber of Commerce.

The bank is currently looking to open its first branch outside of Lanarkshire, with Edinburgh earmarked as a possible location.

Jim Lindsay, general manager of Airdrie Savings Bank, said: "We were absolutely delighted with the great turnout at the event, giving us a chance to engage with a significant number of potential customers in the capital.

"Many people were keen to register their interest and find out more, while a significant number of others arrived keen to sign up there and then, which is fantastic. We are now thinking of having further customer recruitment events around the country, and are also considering the best location for our next branch."

The first customers to sign up included retired couple Elizabeth and Neil Sutherland from Edinburgh, with former head-teacher Neil describing Airdrie Savings Bank as a "refreshing change" compared with other banks.

He said: "Airdrie Savings Bank particularly appealed to us because it is a Scottish bank which has traditional values, which makes me feel reassured that our money is in good hands."

The 175 year old bank received a boost to its capital base earlier this year when several members of Scotland’s business elite, including Kwik Fit founder Tom Farmer, made a £1million deposit.

The cash injection was said to be in recognition of Airdrie Savings Bank’s prudent approach to banking,

Graham Birse, managing director of the Chamber, said: "I have absolutely no doubt there is a market for Airdrie Savings Bank here in Edinburgh and the turnout at the roadshow is testament to this.

"I believe many ‘traditional’ banks almost fell out of fashion over recent years as people and businesses attempted to pursue fast profits, but there has been a u-turn and people are reverting back to banks built on traditional values. Airdrie Savings Bank is a perfect example of this, having stood the test of time in a difficult climate."

Airdrie Savings Bank was established in 1835 as part of the ‘thrift’ movement and customers are still permitted to open accounts with a deposit of only 5p.