Sale rumours surround Leicester-based bank
Leicester-based Cambridge & Counties Bank could be about to be sold, according to reports.
Sky News says that owners Trinity Hall College and Cambridgeshire Local Government Pension Fund have instructed bankers at Rothschild to find a buyer for the bank at some point next year in a deal that would value it between £200m and £300m.
In May, Cambridge & Counties Bank secured a £100m ENABLE Guarantee via the British Business Bank.
The Guarantee allows the bank to offer “significantly more” funding to smaller businesses.
In its year-end results in March, Cambridge & Counties reported profits of £24.4m – up by 35%. It employs around 100 people in Leicester.
