Shawbrook Bank doubles commercial mortgage book
In a strong set of results Shawbrook also revealed that secured lending grew by 57% to £357m whilst consumer lending grew by 193% to £181m.
Growth in total lending to SMEs during the period between June 2013 and June 2014 was also up and topped £685m.
The Bank’s H1 2014 loan book has been boosted by the strategic acquisition of asset-based lender Centric, whose range of SME lending services have enabled Shawbrook to extend its offer for credit-worthy businesses seeking finance to expand.
Richard Pyman, CEO of Shawbrook Bank, said: “I am delighted to report that Shawbrook’s growth momentum has continued to be strong in the twelve months to June 2014: we have now exceeded £2bn of gross customer loans since our launch in 2011, and increased SME lending to £1.4bn.
“Asset quality remains high and we have made good progress in the third quarter to date.
“We continue to see strong demand from credit-worthy SMEs and individual customers who are seeking a straight-forward, quality relationship with their bank.
“Our focus on specialist teams and a human approach to decision making to deliver excellent customer service has enabled us to grow our lending to small businesses by £685m in the twelve months to June 2014.
“Against the backdrop of the most recent FLS figures, which showed a reduction in lending from the high street banks, Shawbrook is helping more and more small businesses to expand and grow.”