Redwood Bank has announced that it has welcomed over 1,000 business customers in its first year of service.
It has also lent around £50m to SMEs since its launch in August 2017.
The challenger bank – which was created to offer an alternative for SMEs – revealed it was approaching £60m of deposits.
Gary Wilkinson, chief executive officer and co-founder of Redwood Bank, said: “We have had a brilliant first year in business.
“We lend across Britain but focus on the regions in which we are based, with more than half of our business loans being drawn in our regional heartlands of the North West and the Home Counties/East of England.
“Our mission is to genuinely make a difference to our business customers by offering great service, simple accounts and by making fast, commonsense decisions.
“Our first year has been very successful and, to everyone who has both helped us and joined us on our journey, a big thank you.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
FP Show confirms Zopa co-founder as keynote speaker
James Alexander, co-founder and former CEO at Zopa (pictured above), has been named as the keynote speaker at the forthcoming Finance Professional Show...
Metro Bank provides £4m invoice finance line to healthcare business
Metro Bank has provided a £4m invoice finance line to medical insourcing specialist 18 Week Support Group...
Modulr to create over 30 new jobs in Scotland
Modulr has completed its latest funding round led by digital venture builder Blenheim Chalcot, which takes the latter’s total investment in the payments fintech to £10.5m...
Specialist banks answer need for products that ‘reflect the reality of today’s society’
Better service and products are the main reasons why a broker would use a specialist bank, according to the latest poll by Specialist Banking...
Leeds Building Society cuts rate on retirement interest-only mortgage
Leeds Building Society has reduced its five-year fixed rate on its retirement interest-only mortgage...
60% of people want to know where their money is invested
Six out of 10 people (60%) want to know where their money is invested, according to the latest research published by Charity Bank...
Why commercial banks are in danger of being left behind
Harnessing a customer-first, technology-led approach, retail banks are paving the way with innovation...
Aldermore supports Quba Solutions with £10m facility
Aldermore has provided a £10m finance facility to Dorchester-based Quba Solutions...
TSB announces new SME banking leadership team
TSB has revealed its new SME banking leadership team as it prepares to launch its business banking proposition later this year...
Paragon Banking Group expects 25% BTL pipeline growth
Paragon Banking Group has announced that its BTL pipeline at 30th September 2018 is expected to be more than 25% higher than the level reported at the same time last year...
Development Bank of Wales moves into new Wrexham HQ
The Development Bank of Wales has opened its new headquarters in Wrexham at Yale Business Village...