Shawbrook Bank has increased its customer loans and advances by 19% to £4bn (€4.5bn) in the nine months to the end of Q3 2016.

In the year to date, net loans and advances to customers increased by 19% from December 2015’s value of £3.4bn.

In their third quarter results, the challenger bank also reported that net interest margins remained stable at 5.6%, and expected to benefit from the cut in the Bank of England base rate in August.

The bank announced the continued roll-out of its regional business centres, having opened a centre for the Midlands in September this year, with aim of having many in operation by the end of 2016.

In the nine months to 30 September 2016, organic originations increased 23% to £1.5bn from £1.2bn at the same point last year.

Steve Pateman, chief executive officer of Shawbrook, stated that financial uncertainty related to Brexit had ‘minimal impact’ on their business.

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By GlobalData

Pateman said: “Overall, the group continues to deliver sustained growth within its disciplined credit quality and returns metrics.

“Whilst we remain cognisant of the uncertainty which lies ahead as the UK begins the process of leaving the EU, we remain confident that we will continue to deliver on our strategic goals.”