Shawbrook sees 15% loan book growth in 2019
Shawbrook Bank has reported a 15% increase in its loan book to £6.8bn with strong growth across its property and business finance divisions.
Property accounted for £4.4bn whilst business finance stood at £1.7bn- this is according to the bank’s 2019 results.
Ian Cowie, chief executive officer at Shawbrook attributed the figures to “an increased focus on its core propositions”.
He said: “I am delighted to be presenting Shawbrook’s 2019 Annual Report and Accounts following my first full year as chief executive officer.
“We are reporting another strong and progressive set of results, further endorsing our continued emphasis on the specialist segments we serve.
“An increased focus on our core propositions has helped drive strong lending volumes with our loan book increasing by 15%, or £0.9bn, to £6.8bn.
“This growth was particularly evident across our property finance and business finance divisions, where loan balances increased to £4.4bn and £1.7bn respectively.”
Cowie also provided an update on the steps Shawbrook continue to take in response to the ongoing COVID-19 pandemic.
He added: “We are taking all appropriate steps in line with government advice and reviewing the most up-to-date information available.
“We have implemented our incident management plan and our priority during this period continues to be on ensuring the safety of our people, whilst keeping our business operational to meet the needs of our customers.
“As this report describes, we have made significant progress over the last year and I am confident that our ongoing investment plan is leading to improvements for customers whilst creating long-term sustainability and value for our business. I believe we are uniquely placed to lead the market as the specialist SME lender of choice.”