Wednesday 16 December 2020 2:55 pm Working capital for the capital: an interview with Lloyds Bank Commercial Banking’s SME London regional director, Paul Evans
Paul Evans, Lloyds Bank Commercial Banking’s SME London regional director
BBLS. CBILS. Furlough. Lockdown.
‘You’re on mute…’. Just some of the acronyms, words and expressions that have dominated 2020.
“A very unusual year in every context” is how Paul Evans, Lloyds Bank Commercial Banking’s long-serving SME (small and medium-sized enterprise) London regional director, reflects on an unprecedented 12 months.
Evans has been with Lloyds Bank for more than 35 years, so has worked through what he describes as a “range of economic conditions”, including the global financial crisis of more than a decade ago. But the business and banking landscape has changed – and continues to change – beyond recognition as Covid-19 continues to create uncertainty.
However, news of the first effective coronavirus vaccine buoyed business confidence for the year ahead. The Tracker, working with IHS Markit, provides unique insight into the shape and pace of the UK’s recovery following the disruption caused by Covid-19. UK sectors remain behind global benchmark, but ahead of Europe Eight of the 14 UK sectors monitored by the Tracker were behind the global index during November, the same number as in October. Tourism and recreation businesses were furthest behind the equivalent global benchmark, with a reading of 15.6 against the global benchmark for the sector of 44.0 as the national lockdown in England came into force. A reading above 50 signals output is rising, while a reading below 50 indicates output is contracting.
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