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.
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...