It said this was supported by its “flexible and scalable” business model and growth in its loan origination.
Marcelino Castrillo, chief executive, said strong demand from the SME and property finance sectors bolstered the group’s performance.
It also completed on a sale of its £300m property finance loan portfolio, which generated £7.7m.
Shawbrook has continued to invest into its technology and distribution including the launch of its MyShawbrook buy-to-let portal and the addition of an extended residential range from its subsidiary The Mortgage Lender (TML).
According to the update, TML is entering Q2 with a “record pipeline” with a focus on borrowers with complex income profiles.
The group reported low levels of arrears on its loan book at an overall rate of 1.6 per cent, a slight reduction on the previous quarter’s 1.7 per cent. It said this reflected the “strong credit quality” of its book.
Castrillo said the group would “remain aware” of the cost-of-living increase and ensure it stays resilient and proactive in supporting customers.
He added: “We have continued to build on the positive momentum achieved in an excellent 2021 financial year and our strong track record, which is reflected in our financial performance.
“Our focus on innovation will continue throughout 2022, with the planned deployment of additional digital capabilities and product launches later in the year.”
“Across our markets, we see customers continuing to adapt to a rapidly changing environment and the demand for personalised finance solutions increasing as a result,” he said.