New jobs promised at bank as it smashes through £500m barrier
Leicester-headquartered “challenger” bank Cambridge & Counties says that it is now lending more than £500m for the first time since opening four years ago.
Cambridge & Counties Bank started lending in summer 2012 and this month passed the half a billion pound landmark in active property loans to SME businesses and investors and through asset finance.
CEO Mike Kirsopp said: “Half a billion pounds is a key milestone in the Bank’s growth, achieved in just four years thanks to the experience, energy and commitment of our growing team.
“But we do not rest here. We remain ambitious and will continue to work with increasing numbers of finance brokers and direct customers to lend more money. We have proven the market is there for our service and our can-do approach.”
The £500m includes more than 1,500 loans. The average loan size has been £403,000, ranging from the smallest at £23,000 to the largest at £9.5m.
The loan book alone grew 66 per cent from the Bank’s year end at 2014 to 2015, and staff numbers have increased from nine at launch to 109 and rising. At least another 10 jobs are forecast to be created before the end of 2016.
