Asset based lender Landsbanki Commercial Finance has announces it is opening its third UK office in Birmingham.
It follows the firm's rapid growth in the Midlands since mounting a push in the region.
Brent Osborne, joint managing director, said: "The opening of a regional office is significant at a time when many financial organisations are centralising.
"We feel it is important to provide the highest quality service and support to both local businesses and their advisers, which is not possible when you are situated hundreds of miles from where the business is actually being conducted.
"The Midlands is known throughout the globe for its energy, automotive and manufacturing focus."
He said the new office would offer a tailored service to meet clients' requirements.
Mr Osborne added: "Expanding our regional branch network underlines our commitment to providing a hands-on approach to business. We selected the Midlands as a point of focus as much for its growing financial status as its strategic location for communications, an essential requirement for a financial service provider."
Larus Welding, head of the bank's London operation, said: "One thing that is striking is the diversity of the Midlands business economy.
"The Midlands has a strong heritage as the manufacturing heartland of the UK with particular strengths in the automotive, motor-sport, transport technology and aerospace industries.
"Many of these businesses tend to be asset-rich companies with the need to release working capital to grow, turnaround, merge or acquire businesses. This spread of industry sectors and high asset base is hugely appealing to Landsbanki as an asset based lender.
"There is also a fast-growing service sector in the Midlands and the largest concentration of professional firms outside London. We have been delighted at the way in which the business introducers have welcomed Landsbanki."
Directors Neil Kindness and Rob Gilmore are responsible for the Midlands expansion.
Launched last year, Landsbanki Commercial Finance, is part of the Iceland-based global banking group.
It has grown faster than the founding team expected, with the Midlands connection initially handled out of London.
Mr Kindness said: "I joined LCF last August as business development director for the Midlands operation and I had modest expectations for the division's growth.
"I was the fourth employee and the firm now has twenty-two. By the end of 2005 it was clear that we needed help and Rob Gilmore was the perfect candidate."
Mr Kindness and Mr Gilmore opened the Birmingham office and recently completed it's first deal when it refinanced six businesses for Harris Watson Holdings with an £8 million asset-based lending facility.
Landsbanki Islands is Iceland's oldest full-service commercial bank.