The loan book of the asset finance arm of UK challenger bank Shawbrook grew 30% to £497m (€662.8m) for the six months ending 30 June 2014, compared to the same period in 2013.

Overall Shawbrook Asset Finance wrote £182m worth of new business in the first half of 2014.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

This growth came after a strong 2013, during which Shawbrook Asset Finance grew 28%.

The bank’s pre-tax profits grew from £5m in the first half of 2013 to £18.6m for the first half of 2014, while total net lending grew 91% to £1.96bn.

Consumer lending, which the bank started in 2012, almost tripled its loan book in the first half of 2014 at £181m compared to £62m in the first half of 2013.

Shawbrook said Centrica, which it acquired on 14 June, added over £200m of SME advances.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Richard Pyman, chief executive officer of Shawbrook Bank, said; ""We continue to see strong demand from credit-worthy SMEs and individual customers who are seeking a straight-forward, quality relationship with their bank.

"Our focus on specialist teams and a human approach to decision making to deliver excellent customer service has enabled us to grow our lending to small businesses by £685m in the twelve months to June 2014."