The growth of its balance sheet has been driven by lending to its core client base of real estate investors, property developers and SMEs, primarily through brokers and intermediaries, with significant growth in its core East Midlands and North West markets. In addition, last year also saw the emergence of strong lending growth in the South West and Wales following a targeted office expansion and network investment programme by the bank.
Simon Lindley, chief development officer Cambridge & Counties Bank said: “We have seen some of our competitors drop away from the market but we remain resolute in helping UK businesses grow and invest through turbulent times. Looking ahead we see continued strong demand for our value-added customer centric proposition and are forecasting continued lending and deposit growth in 2019.”
Cambridge & Counties Bank’s balance sheet growth has been catalysed by new products and services and competitive rates. It expanded its product offering in November to include classic car asset finance which has performed above expectations since its launch in a market often neglected by the mainstream funders.
Growth has also been fuelled by its extensive relationships with brokers and intermediaries across its UK footprint. The bank recently announced, for instance, that lending through Sheffield-based Real Property Finance Ltd, one of Yorkshire’s leading property finance brokers, has passed the £100m mark in loans for clients.
Cambridge & Counties Bank, which is jointly owned by Trinity Hall, a College of the University of Cambridge, and Cambridgeshire Local Government Pension Fund, predicts further growth in 2019. This will be driven by the continued investment in the front-line team and ensuring that the bank continues to deliver on its reputation for outstanding customer service.
Simon Lindley added: “The bank has developed a strong, unique and customer focused business model which has generated real momentum in our selected product lines and target markets. The successful launch of classic cars highlights the client demand that exists in niche sectors and the importance of continuing our investment in our broker relationships.”