Featured in this newsletter:
Proud to be B Corp certified
Earlier this year, Cambridge & Counties Bank was accredited as a Certified B Corporation and we couldn’t be more proud!
This achievement reflects the bank’s unwavering commitment to fostering a business that cares deeply about making a positive impact on both society and the environment.
Specialist car finance celebrates 5 years
As demand for specialist car lending continues to increase in the UK, Cambridge & Counties Bank expects to break the £100m mark in financing this year. As of September 2023, we have finance agreements for around 200 cars, broken down by marque as shown in the table.
To mark this special milestone, we were thrilled to invite some of our esteemed brokers and customers to join us for an evening celebration at the prestigious Royal Automobile Club.
Continued strong growth
We registered our highest ever level of customer loans and deposits in 2022 as we continued to support SMEs, entrepreneurs, individuals and professionals with growth opportunities in the UK. Gross customer loan balances increased 6% across the year to £1.055 billion, while customer deposits rose to £1.103 billion, up 8%, with the bank delivering £310 million in gross new lending for the year. The balance sheet strength resulted in the bank recording £28.5 million in pre-tax profit, an increase of 54% on 2021.
“We continue to deliver against our strategic priorities to become the specialist SME Bank of choice for our customers and the finance brokers that serve them. Our focus on servicing their needs through a personal approach builds on our deep understanding of their requirements and is evidenced by the growing number of satisfied customers and broker partners: we continue to enjoy over 90% customer satisfaction.”
Donald Kerr, CEO
Awards and recognition
It’s always an honour to be recognised for the hard work that our fantastic relationship managers do, and we can’t do it without the support of our exceptional broker community. Keep an eye on our socials to see our latest news!
NACFB Commercial Lender Awards
We are thrilled to have been named "Community Lender of the Year" at the NACFB Commercial Lender Awards! Huge thanks to our dedicated team whose hard work and passion made this possible.
Business MoneyFacts Awards
We were delighted to scoop 'Best Business Fixed Account Provider' at the Business Moneyfacts Awards ceremony earlier this year, and very happy to be highly commended for ‘Best Service from a Commercial Finance Provider’.
BBB announced £20m Tier 2 facility with Cambridge & Counties Bank
Funds raised from the facility will enable us to increase the supply and diversity of finance for small businesses across the UK.
This will further allow us to support our UK SME client base with their financing and growth ambitions.
Events and exhibitions
It’s been a busy year for us, and you may have seen lots of our team at various events, exhibitions, awards ceremonies and more! We look forward to more of the same in 2024...
Over the last 10 months alone, we welcomed 52 new recruits to the bank!
- Our asset finance team have had 6 new joiners including David Cousins, Tamsin Emery and Kashif Mulla joining most recently.
- In other exciting news we are appointing a new Regional Director in Manchester to continue our successful growth within the region.
- As we continue to invest in our board of directors, we welcomed Elizabeth Lockwood and Michele Ibbs as Non-Executive Directors.