Charity Bank has provided over £152m to the social sector during the first three months of 2018, more than in any other quarter in its history.
The loan and savings bank – which is owned by charities and social purpose organisations – has grown its loan book by over 120% since the start of 2015.
Following this latest lending rise, Charity Bank has launched its 'Bank on Us' campaign to reduce the cost associated with taking on a new loan and refinancing an existing loan.
The campaign comes after the bank increased the interest rate paid on its ethical easy access account.
Patrick Crawford, chief executive at Charity Bank, said that despite the challenging and uncertain outlook, charities and social enterprises had continued to take on new projects to address social needs.
“The resulting loan demand from the social sector has continued and shows no sign of slowing.
“Our Bank on Us campaign is part of our pledge to continue to work side by side with social sector organisations seeking to use loan finance to make a bigger difference.
“By reducing the costs associated with taking on a new loan and refinancing an existing loan, we aim to give a little extra back to the charities and social enterprises we have the privilege to work with every day as they help the disadvantaged, enrich lives and improve communities.”
Charity Bank's record growth in Q1 2018 follows three consecutive years of record lending, with the bank providing £34.1m to organisations in the social sector during 2017.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
OakNorth to double size of Manchester team
OakNorth has announced it will be doubling the size of its Manchester team due to an increase in demand for its loans in the region...
UTB hires Simon Burnell as head of product development
United Trust Bank (UTB) has appointed Simon Burnell (pictured above) as head of product development for its mortgages and bridging division...
Monzo raises £20m in latest crowdfunding round
Monzo has raised £20m in just over two days via its third crowdfunding round...
Could more banks look to use gamification?
Gamification is defined as the application of typical elements of game playing to other areas of activity, typically as an online marketing technique to encourage engagement with a product or service...
Bank Leumi (UK) appoints chief business officer
Bank Leumi (UK) has announced the appointment of Andy Mallin (pictured above) as chief business officer...
Handelsbanken launches UK banking subsidiary
Handelsbanken has launched its new UK subsidiary Handelsbanken PLC as it looks to continue the next stage of its growth in the UK...
Making the most of savings in 2019
Personal finance headlines and best-buy tables are dominated by retail savings products, with very few column inches dedicated to helping businesses determine the best places to stash their cash...
PCF posts 44% pre-tax profit increase
PCF Group PLC has reported a 44% increase in pre-tax profits to £5.2m (2017: £3.6m) in its preliminary results for the year ended 30th September 2018...
Mortgage Sleep Out raises over £100,000
Mortgage Sleep Out has raised more than £100,000 for End Youth Homelessness (EYH)...
Gatehouse Bank launches home purchase plan product
Gatehouse Bank has announced the launch of its first home purchase plan product after securing regulatory approval...
Monese offers free premium current accounts for dual UK/EU citizens
Monese has announced the launch of free premium current accounts for those holding dual EU/UK citizenship...