Shawbrook Bank's lending tops £1bn
ONE of the so-called challenger banks competing against the big high-street names has seen its lending pass £1billion.
Shawbrook Bank was launched in 2011 as a specialist savings and lending bank for small firms and individuals.
Since then it has lent £766million to firms and £369million to households.
The milestone is seen as a key step towards increasing competition in the banking sector.
Shawbrook chief executive Ian Henderson said: “While the high-street banks continue their struggle to address deep-rooted issues, we have been able to enter the market and appeal to increasing numbers of customers who are looking for something different – a bank that wants to lend rather than claims to lend.”
