AI-powered efficiency drive boosts Shawbrook profits by 16%
Profits at specialist lender Shawbrook rose 16% in the first half of the year as artificial intelligence deployments across its lending operations helped drive down costs.
The London-listed bank reported underlying profit before tax of £195.5m for the six months to 30 June, up from £168.6m a year earlier.
The cost to income ratio improved to 36.4% from 40% as the bank's investment in AI and technology delivered efficiency gains across its platform.
In its real estate division, AI-assisted underwriting is targeting a reducti... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
