Shawbrook's commercial mortgage business grows 101%

Building on the momentum of the first six months of 2014, Shawbrook has also made a strong start to the second half of the year.

Each of Shawbrook’s specialist lending businesses, which support over 50,000 small business and personal customers, delivered strong performances in the twelve months to June 2014, including the commercial mortgages (which grew 101% to £716m) and asset finance (which grew 30% to £497m).

Operating a traditional savings and lending model, Shawbrook’s lending lines are funded by retail deposits from over 50,000 individual and business savings customers.  New customer deposits of £858m between June 2013 and June 2014 increased the Bank’s retail deposit balance to £2.1bn.

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.”