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Shawbrook set for £90m flotation

Sarah Davidson

March 12, 2015

The Essex-based lender is set to follow fellow challenger bank Aldermore, which was listed on Tuesday.

Shawbrook expects to float at least 25% of its issued share capital, while the bank’s directors, employees and senior management will also sell shares.

Richard Pyman, chief executive of Shawbrook, said: “We are delighted to announce our intention to float which marks the next stage in our growth story.

“In the four years since our foundation, we have built a business that provides UK customers with a fresh, pragmatic approach to lending and savings built on traditional values of respect, care, good sense and thoughtful judgement.

“Our focus on specialist teams, working in carefully selected markets and with a human approach to decision-making to deliver excellent customer service, has enabled us to develop a clearly differentiated business with impressive returns.

“We believe we are well-positioned to achieve long-term sustainable growth and that Shawbrook will become an increasingly well-known name in the specialist world of British banking.”

Shawbrook holds a £2.3bn loan book, which increased by £900m in the year to December 31 2014, while the bank achieved profits before tax of £49.1m last year.


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