Shawbrook’s loan book grows 15% to £13.8bn in Q1

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  • 16/05/2024
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Shawbrook’s loan book grows 15% to £13.8bn in Q1
Shawbrook Group’s loan book rose 15% year-on-year to £13.8bn, “driven by strong net lending volumes across our specialist real estate and SME markets”.

According to Shawbrook’s latest financial report, it had “further strengthened” its funding base, with its deposit book rising to £14.8bn, up from £13.6bn at the end of 2023.

The report found that its arrears ratio stands at 2.5%, a slight increase from 2.3% as of 31 December 2023.

Marcelino Castrillo, Shawbrook Bank’s CEO, said that it had “started the year positively, with customers continuing to value the premium experience, flexibility and certainty Shawbrook delivers across our diverse markets”.

He continued: “Our deep customer understanding continues to inform and drive service enhancements and product innovation, illustrated by the recent launch of our secured structured real estate proposition. Offering bespoke, relationship-led support to professional landlords, this service provides financing solutions for larger and more complex transactions.”

Castrillo said that the macroeconomic landscape continues to evolve, and that the company was “encouraged by the versatility of our ‘best-of-both’ model and the resilient performance we have delivered to date”.

He added that, while there was a “gradual but notable improvement in sentiment across our specialist markets, our expert portfolio management teams continue to work closely with customers”.

“Supported by our data-driven, forward-looking risk management frameworks, we closely monitor the outputs from targeted early-warning indicators to identify and react quickly to any emerging risks,” Castrillo noted.

He said that, in Q1, it had progressed the roll-out of a cloud contact-centre technology that offered “in-depth AI-driven sentiment analysis”.

Castrillo continued: “Delivering brilliant customer experiences is increasingly reliant on data and advanced technologies as we serve more customers more frequently across multiple channels.

“The breadth of our specialist offering and the flexibility of our platform will allow us to deliver for more customers in our chosen markets by combining the innovative mindset and agility of a start-up with the scale and financial strength of a large business.”

In April, the company announced it was slashing its complex buy-to-let (BTL) deal rates.

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