This mid-size UK bank was not meeting its expectations for earnings growth. PROFIT INSIGHT helped turn that around quickly, exceeding the client’s expectations.
The Business Challenge
This mid-size UK bank was not meeting its expectations for earnings growth.
How Profit Insight Helped
Profit Insight was engaged to generate ideas focusing on SME current accounts and commercial loans. The client set a minimum target of £6 million of incremental revenue within a 12-month timeframe.
Engagement Results
Profit Insight’s product pricing recommendations contributed to the client’s £6 million target three months earlier than expected and additional strategies recommended by Profit Insight doubled the client’s incremental revenue within the following 12 months.
Insights
- The Bank was based outside London with a heavy concentration of customers in more rural areas due to the client’s history as a farming focused co-operative and mutual building society.
- Earnings growth had not met expectations and management had several projects underway to restructure costs, products and pricing to improve net earnings.
