Shawbrook CEO plays down Brexit impact

Ryan Bembridge

November 3, 2016

shawbrook bank

Shawbrook Bank chief executive Steve Pateman claims Brexit uncertainties have had a minimum impact on business so far this year.

Pateman was quoted in the bank’s results for the first nine months of 2016, which showed that net lending has increased by 19% from 3.4bn on 31 December 2015 to £4bn in 30 September 2016 across its property, business and consumer lending divisions.

Pateman said the results show “Brexit-related uncertainties in the economy having a minimal impact on our business to date”.

BoE figures – robust October for mortgage approvals

He added: “Overall, the group continues to deliver sustained growth within its disciplined credit quality and returns metrics.

“Whilst we remain cognisant of the uncertainty which lies ahead as the UK begins the process of leaving the EU, we remain confident that we will continue to deliver on our strategic goals. “

The bank also increased its originations by 23% year-on-year to £1.5bn in the third quarter of 2016.

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