Niche property bank Cambridge & Counties has announced plans to grow by expanding its geographical reach, and by also launching new products.
The bank, which recently announced strong annual results revealing that in 2017 it saw total deposits grow by 16% to reach £798 million and its lending balance increase by 17% to £690 million, is currently only operating in around 40% of Britain. Its aim is to cover the whole of the country within the next few years. Key markets for growth include South Wales and North West.
Cambridge & Counties Bank will expand its product suite and develop new niche lending markets in the asset finance sector. The bank is also currently looking at developing a product linked to classic cars.
However, the bank has confirmed that its growth will continue to be based on strong risk management and as part of this it will not chase market share by offering loss-leading rates or cross-sell to clients.
Simon Lindley, Chief Development Offer, Cambridge & Counties Bank said: “We have enjoyed robust growth every year since our launch in 2012. However, this is based on offering specialist products to professional clients, all underpinned by our highly experienced team who understand their markets extremely well.
“Our model is working well and there is a huge opportunity for us to take it to more geographical markets around Britain, and develop new niche products aimed at Property Investors and the professional SME sector.”