Niche property bank Cambridge & Counties celebrated its fifth birthday with customers, brokers and staff toasting its £650 million of lending.
Cambridge & Counties, which has its headquarters on Leicester’s New Walk, marked the occasion with a gathering at the City Rooms where chief executive Mike Kirsopp thanked everyone for supporting the Bank’s growth since its 2012 launch.
Mike said: “When we launched five years ago there were nine of us in the team. To be celebrating our fifth birthday with almost 130 colleagues after five consecutive years of growth is a wonderful achievement.”
As well as £650 million of current lending, Cambridge & Counties Bank has savings balances of more than £735 million. These balances are from Businesses, charities and community organisations that have been attracted by straightforward products at competitive rates.
The largest loan to date was £7.7 million lent to the owners of a landmark Birmingham building that was converted into student flats.
Cambridge & Counties has also achieved more than 200 asset finance transactions worth more than £15 million in the last two years.
Profitable within 13 months after its launch in summer 2012, Cambridge & Counties posted more than £18 million in post-tax profits in 2016.
Mike said: “As well as enormous credit going to our teams in Leicester, Cambridge, Birmingham, Bristol and Sheffield, we acknowledge the important role played by the finance brokers who introduce their client businesses and investors to us.
“Together we give our customers what they want from a bank – straightforward products, transparent decision making, a quick response and service levels that result in 99 per cent of customers being happy to recommend us.”