Shawbrook to launch lending into retirement range in Q1

In its interim results, Shawbrook also announced a partnership deal with Saga to explore the provision of additional financial solutions for life after 50.

It also plans a continued progression of its presence in the Development Finance market through phased growth .

Shawbrook Group has reported continued growth in 2016 with net loans & advances to customers rising by 19% to hit £4.0bn, up from £3.4bn at the end of 2015.

Its interim results show a 23% increase in organic originations in Q3 2016 YTD to £1.5bn.

The Group has also reported significant developments in expanding its distribution capabilities with a number of Regional Business Centres expected to be operational by the end of 2016.

Steve Pateman, CEO said: “The momentum of the first half of 2016 continued into the third quarter with the Group exceeding £4bn of customer loans and achieving sustained growth at strong and disciplined risk adjusted margins, maintaining stability in NIM and achieving a cost of risk and cost to income in line with Management’s expectations. Gross originations for the nine months to 30 September 2016 were £1.5bn, an increase of 23% compared with the same period in 2015, with Brexit-related uncertainties in the economy having a minimal impact on our business to date.

"We continue to make good progress in each of our divisions: the Property Finance division has achieved record levels of originations in Q3 despite the usual slowdown in the property market during August; we are continuing to invest in the roll out of our Regional Business Centres in the Business Finance division and expect a number of our centres to be operational by the end of 2016; and our Consumer division continues to widen its distribution channel with the announcement of a new partnership with Saga plc.

"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.

"One of Shawbrook’s strengths is its diversity across many specialist segments. There is considerable potential to grow in our core markets with new products which allow us to meet the needs of businesses and individuals which are becoming less well served by the mainstream banks.”