Bank of the West continues to eye opportunities in the powersports lending space, amid the bank’s “strong” performance in RV and marine, Head of Personal Finance and Executive Vice President Michael Pereira told Powersports Finance.
“Our position in the RV market is very strong … and we are more than committed to this business,” Pereira said, adding that the bank will continue to invest in “enhancements” to the RV and marine market.
While Bank of the West does not currently offer financing options for motorcycles or ATVs, the bank continues to consider that product expansion. “It’s something that we look at on an ongoing basis,” Pereira said. “When you have a strong position in the market, you are always ready to look at other markets.”
Bank of the West offers leases and loans for cars, and loans for boats and recreational vehicles. The San Francisco-based bank has an RV and marine portfolio of more than $9 billion, according to Pereira, compared with a $5 billion auto loan portfolio.