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New bank Shawbrook Bank has exceeded £1 billion in lending to small and medium-sized enterprises (SMEs) and individual customers in the UK since its launch in 2011.
The challenger bank has now lent £766m to SMEs and nearly £369m to personal customers.
Shawbrook, which broke even after 16 months of trading, cited its network of intermediaries.
Ian Henderson, chief executive of Shawbrook, said: “Our success is thanks in no small part to our network of specialist brokers.
“We take our brokers’ feedback very seriously, and give it careful consideration whenever our teams are working on developments to our products and processes. It’s a model which we’re committed to, and we look forward to completing many more deals with our broker partners in the future.”
The bank’s commercial mortgages and secured lending divisions lend solely through brokers, while Shawbrook Asset Finance lends through brokers and direct clients.
The consumer finance division of the bank provides finance through home improvement suppliers, resorts and retailers.
Shawbrook announced the launch of a wholesale lending division in July headed up by former directors of the structured finance team at Royal Bank of Scotland, Kieran McSweeney, Marc Sefton and Michael Katramados.
In May this year Shawbrook posted an underlying second year profit of £2.6m.
