Charity Bank boosts profile in Wales with new director

Charity Bank has appointed a communications specialist to head up its new office in Cardiff and raise the profile of the bank.

Ian Courtney, who has been appointed to the new position of regional director for Wales, previously worked as a communications and public policy specialist in the technology, new media, energy and investment finance sectors. Most recently he was CEO of TM Communications and Media.

He plans to use his communications skills to raise the profile of the bank in Wales.

Courtney said: 'The bank has been active in Wales ever since it was founded and has Welsh-based depositors and clients, but the timing for the permanent office now is perfect.

'Wales has a very active third sector and a lot of those charities and social enterprises are providers of various types of public services.

'We're on the verge of a perfect storm, times are going to get very, very tough for all organisations and definitely those funded by government. They're going to have to build sustainable business models and this is what the bank does, providing transitional development capital and advice.'

News of the Welsh appointment came at the same time as Charity Bank outlined its 2008 results at its AGM. It revealed that loans grew by 39 per cent year on year, to £27.3m in 2008, and by 40 per cent in the year to April 2009 - a six-fold increase since launching in December 2002.

On the other side of the balance sheet, deposits grew by almost 7 per cent in 2008 and topped £40m by the beginning of May 2009.