Shawbrook Bank reaches £2bn savings milestone

This significant milestone comes soon after the specialist savings and lending bank announced a pre-tax profit of £16.8m - an outstanding set of annual results for its third year of operation.

James Blower, savings director at Shawbrook Bank, said:

“Shawbrook has seen dramatic growth in the last 12 months and the success of the bank’s savings offering has played a major part in this. Our deposit base has doubled in the last year and the number of saving customers has almost tripled since 2012.  We now have over 50,000 accounts.”

“During what has been a very difficult time for savers with rates offered by the High Street Banks at all-time lows, Shawbrook continues to champion a fair deal for UK savers. Reaching the £2billion mark is a great achievement and is testament that savers welcome an alternative to the bigger banks.”

A range of savings accounts are available for individuals, SMEs, charities and trusts. Products include fixed rate bonds from 6 months to 5 years as well as 95 days, 100 days and 120 days’ notice accounts.