Cambridge and Counties confirms lending rise to £769m – results

Niche B2B lender, Cambridge and Counties Bank saw loans and advances increase from £690m to £769m with pre-tax profit up 14% to £27.9m last financial year.

 

The lender, which is jointly owned by Trinity Hall, a College of the University of Cambridge, and Cambridgeshire Local Government Pension Fund thanked its broker partners for its success.

Bank CEO Mike Kirsopp said: “A big part of our success is down to the broker partners and intermediaries we work with, and I would like to personally thank them for their continued support. Our overall customer satisfaction remains market leading and, looking forward, maintaining and building on this is a core priority for us.”

He continued: “Notwithstanding increased uncertainty in the UK, due to factors such as Brexit and weakening in some markets, we have delivered a 14% increase in pre-tax profit. We have worked hard to deliver another strong year of growth and the Bank is well positioned for continued success in 2019.”

The bank reported the emergence of strong lending in the South West and Wales alongside its core local markets following a targeted office expansion and network investment programme.

It expanded its product range to classic car finance and delivered £5.3m in customer lending in 2018.

 

SOURCE: mortgagesolutions

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