World-class London hospital receives RBS support

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World-class London hospital receives RBS support

London-based Guy's and St Thomas' NHS Foundation Trust, has secured an extension to its funding from The Royal Bank of Scotland (RBS) to double its revolving credit facility from £30m to £60m.

Guy's and St Thomas' is one of the leading NHS foundation trusts in the country. The Trust became one of the first foundation trusts in July 2004 and provides over a million patient contacts a year, with a full range of services including cancer, cardiothoracic, renal, orthopaedic and children's services, as well as community services in Lambeth and Southwark.

The extension of the Trust's credit facility will help to support an ambitious strategic vision, enabling it to continue investing generated surpluses in planned capital projects aimed at improving its quality of service, facilities and equipment.

One of the largest local employers, with around 12,000 staff and a turnover of over £1billion, the Trust has banked with RBS Corporate & Institutional Banking (CIB) for 18 years. The improved credit facility from RBS will allow the Trust to draw on finance at short notice and manage cash flow at a time when it is undertaking significant capital improvements.

Martin Shaw, director of finance at Guy's and St Thomas', said: "This is an exciting time for Guy's as we look to improve and expand the range of services we offer to our patients. We have banked with RBS and NatWest since 1993 and built a good relationship with them. They really understand our requirements and were able to come up with a tailored package that will enable us to continue to grow the levels of care we offer. We don't expect to draw on the facility, but having it in place gives us the confidence to proceed with implementing our service development strategy in an uncertain NHS environment."

Jasvinder Devgon, relationship director, RBS Corporate & Institutional Banking (CIB), said; "Guy's and St Thomas' is an exceptionally busy and important London hospital and does some fantastic work. We have been fortunate to work along side them for the last 18 years and are happy to be able to continue this relationship. Healthcare is a key sector for us and we have a huge amount of expertise in it which we believe helped us to retain this valued customer. "

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