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May 19, 2021updated 20 May 2021 9:31am

Shawbrook grows loan book by 5.4% to £7.5bn

By Alejandro Gonzalez

Shawbrook Group, the parent of specialist lender and asset finance provider Shawbrook Bank, has posted strong financial and operational performance for the three months to 31 March 2021.

The Group said it continued to invest in technology “to support its strategic objective of digitising and enhancing the customer proposition”.

The Bank’s loan book grew by 5.4% to £7.5bn and capital and liquidity ratios were significantly increased above regulatory requirements, the Group said.

Ian Cowie, chief executive of Shawbrook, said: “We have continued to invest heavily in our digitisation agenda, introducing a new BTL origination platform in Property Finance and building significantly scaled automation tools in Business Finance to ease the customer journey, in-life management and portfolio analytics.

“With an improving economic backdrop, strengthening demand for our specialist lending proposition, a robust capital position and a strong funding base, we are ideally placed to build on this continued momentum throughout 2021 and into 2022.”

Capel & Shawbrook

In March 2021, Shawbrook Bank announced a new strategic relationship with alternative SME credit fintech, Caple. 

It said the relationship would significantly expand Caple’s lending-as-a-service offer, which provides banks and institutional investors with an efficient way to access and lend to larger SMEs, or the 36,000 UK firms turning over between £1m and £50m.

Caple is an independent company, which uses a network of advisory firms and a technology-enabled engagement model that serves to standardise and streamline the lending process for larger SMEs. 

Operational efficiency

Meanwhile, in August 2020, John Cronin, financials analyst at Goodbody, said Shawbrook was performing ahead of its peers in terms of operational efficiency.

Cronin was commenting in the aftermath of Shawbrook publishing its half-year financial results for the period ending 30 June 2020.

Cronin said: “It is crystal clear that the bank is performing ahead of peers in an operational efficiency context – with a material 8% year-on-year reduction in regular operational expenditure observed in the period.”

“Reflecting ‘careful cost management, increased automation and reduced operational expenses during the lockdown as we moved our whole workforce into remote home working,’ Cronin said quoting Shawbrook’s CFO.

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