Ask Timpo: bank managers

by John Timpson - Thursday, 30th August 2007 -

However much you suck up to your bank manager, you are not going to secure much more than a sympathetic ear and an invitation to the bank’s corporate golf day.

At a bank, the big decisions are made by invisible members of the credit committee. But a good relationship is important. Your local manager may not be able to authorise a big loan, but he writes a report that will have a major influence on the decision.

If you don’t like your manager or if you feel he doesn’t like you, have the courage to contact a more senior person at the bank and ask for a change. If they don’t grant your request, change your bank.

There is no harm in becoming your bank manager’s pal, but the best way to secure his support is to be honest in your dealings, create a good business, provide him with your latest figures, and don’t give the bank any surprises.

In banking, however, nothing is forever. As soon as you get comfortable with your bank manager he will be moved to Glasgow or Grimsby and you will have to start all over again.

John Timpson is chief executive of Timpson. His business books, including the latest, How to Be a Great Big Boss, are available from www.timpson.co.uk