Cambridge & Counties Bank reaches lending milestone
Cambridge & Counties Bank says it has reached a major milestone in its growth – a quarter of a billion pounds in lending.
The challenger bank for SMEs is only in its third year but says it has seen continuous growth every month since launch in the summer of 2012.
The bank, jointly owned by Cambridgeshire Local Government Pension Fund and Trinity Hall, a College of the University of Cambridge, also claims to have achieved and maintained a customer recommendation rate of 99 per cent.
Chief executive officer Mike Kirsopp said: “£250 million in lending is a landmark in our growth. But more importantly it shows that we are giving businesses what they need and what they cannot easily find elsewhere.”
2014 saw Cambridge & Counties Bank open offices in Bristol and Sheffield, taking its to the South West and North in addition to its original heartlands of East Anglia and the Midlands.
In 2015 the bank, headquartered in Leicester, will seek to further develop its products and to lend to an increasing number of SMEs both directly and through the growing number of brokers it works with.
Offering loans to local SMEs, commercial property investors and experienced residential landlords, the majority of loan decisions made by the bank go through within 48 hours of a fully completed application being submitted.
• PHOTOGRAPH SHOWS: Cambridge & Counties Bank chief executive officer Mike Kirsopp