Specialist bank Cambridge & Counties has revealed that it aims to cover the entire country within the next few years, as well as expanding its product suite.
The niche property bank – which currently only operates in around 40% of Britain – has highlighted south Wales and the North West as key markets for growth.
It is also eyeing new niche lending markets in the asset finance sector and is currently looking at developing a product linked to classic cars.
Simon Lindley, chief development officer at Cambridge & Counties Bank (pictured top), said it had enjoyed robust growth every year since its launch in 2012.
“However, this is based on offering specialist products to professional clients, all underpinned by our highly experienced team who understand their markets extremely well.”
The bank confirmed that its growth would continue to be based on strong risk management and, therefore, it would not chase market share by offering loss-leading rates or cross-selling to clients.
“Our model is working well and there is a huge opportunity for us to take it to more geographical markets around Britain and develop new niche products aimed at property investors and the professional SME sector,” added Simon.
Cambridge & Counties – which is jointly owned by Trinity Hall, a college of the University of Cambridge, and Cambridgeshire Local Government Pension Fund – recently announced that in 2017, it saw total deposits grow by 17% to hit £798m and its lending balance surge by 17% to £690m.
In May, the Leicester-based bank reported it had secured a £100m ENABLE Guarantee through the British Business Bank, which will allow it to provide more funding to smaller businesses.
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