Cambridge & Counties Bank sees lending hit £1bn as the bank celebrates its 10th anniversary
Specialist lender Cambridge & Counties Bank has seen total lending top £1 billion and the total number of staff hit 200 for the first time as the bank celebrates its 10th anniversary in June 2022.
Over the past 10 years, Cambridge & Counties Bank has grown into a significant competitor in its selected markets and business lines. From a standing start since launching in 2012, the bank sailed through the £1bn deposits mark during 2021 and crashed through the £1 billion lending mark in early 2022, underscoring the banks continued growth.
Having originally started from the East Midlands, the Leicester-headquartered bank has seen staff numbers increase to more than 200, with major offices now in Sheffield, Bristol, and London together with a network of relationship managers stretching across England, Wales and Scotland.
As part of a series of events and initiatives to celebrate its 10th anniversary, the bank is a running a social media-based charity donation initiative, called One Big Birthday Present, which will see 10 charities share £10,000. Customers, finance brokers and other stakeholders are asked to nominate registered charities as part of the process.
This is one of several initiatives the bank is undertaking as part of its celebrations. Others include a competition at the NACFB’s annual conference in June and a series of events aimed at celebrating the bank’s employees, including the introduction of a long-service reward scheme.
Underscoring its continued success, the bank saw a 47% rise in gross new lending to an annual record of £323m in FY2021. Asset finance lending rose 29% in 2021 while finance for the purchase of classic cars and sports vehicles using hire purchase and lease purchase products increased 33%.
Over the past 10 years, the bank has developed a growing and loyal customer base and a pan-UK network of commercial finance brokers due to its competitive suite of products, a client-centric business structure, and a highly tailored, bespoke lending approach.
Donald Kerr, CEO, Cambridge & Counties Bank, said: “The world was a very different place when the bank was launched 10 years ago. But despite strong market competition and significant macro-economic challenges, we have continued to thrive because we understand the importance of remaining relevant to both our customers and broker partners.
“At the heart of our success are our dedicated employees and our celebrations will reflect the central role they play. And whilst we continue to invest in technology to underpin our service, we will continue to stick to what we know creates value and long-term growth: one-to-one relationships over the entire lifetime of a customer and to remain the bank of choice.”