Page 12 - 86395_CCB - 2024 Annual Report (web)

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We have continued to invest in our I am delighted with the strong
customer journeys including in our property results from our most recent employee
business where we have optimised the build engagement survey, reflecting our strong
out of the nCino platform launched in 2022 values driven culture. I am particularly
along with the launch of a digital servicing pleased that we had participation of 86%
application for our more straightforward (2023: 73%) and we continue to have
customers working with Nivo, a market a highly engaged team reflected in a
leading technology company. In asset score of 80%, bettering global and sector
finance we have streamlined processes for peers as provided by our survey provider.
certain cohorts of customers significantly The feedback also gives us insight as to how
reducing the time taken to payout for these we can further improve, reminding us that
customers. We have also automated aspects the engagement journey is never complete.
of our financial crime controls allowing us to Likewise, the drive for improved diversity
focus our efforts on those customers who continues and while we have maintained
present higher risk characteristics. The next gender diversity at our committed levels
year will see us build greater flexibility into for senior management levels (40%) we
our technology stack allowing for faster and recognise that there is more to do across
safer deployment of future innovation. the spectrum of this crucial area, and this
will remain a focus for the Executive.
People
Outlook
As highlighted last year, Andrea Hodgson
left us to pursue a career as a Non‑Executive The delivery of the strategic plan agreed
and it comes as no surprise that she has three years ago has taken the whole
been quickly snapped up by a couple of team across Cambridge & Counties Bank
banks to serve on their boards. to engage positively and contribute.
I am delighted to have recruited Richard Consistent and sustainable growth across
Hanrahan as our new Chief Financial Officer. a range of metrics does not happen by
Richard has settled in well and is already accident and the next three‑year plan will
delivering on several priority areas and his require a redoubling of efforts but the
broad skill set will stand us in good stead as goal of being “the specialist SME bank
we progress our plans. of choice” is a worthy prize. Cambridge
Mike Hudson, our Chief Risk Officer, & Counties Bank remains a great place
intimated to me that he would be stepping to work, has the capital and liquidity to
down from his own executive career support our aspirations and ambitious
in 2025. Mike has been a terrific CRO, plans to deliver for all stakeholders. My
strengthening our second line team, thanks to all who have contributed in 2024,
improving our Risk Management Framework and I look forward to the next three years
while at the same time being a great with confidence.
advocate for our ambitious plans. We have The Bank remains well capitalised,
identified Mike’s successor, and James Royle with strong liquidity and an asset backed
will join us in Q1 2025 allowing for a robust lending portfolio. We have retained an
handover. James was CRO at Recognise appropriate credit loss provision, to provide
Bank, another bank focussed on the SME a suitable level of coverage across our loan
sector, prior to joining us. portfolio. We are confident we can deliver
As we have grown as a bank, we continue our strategy, building on the investment we
to focus on making Cambridge & Counties have made over the past couple of years
Bank a rewarding place to work. Our learning and the momentum continued during 2024.
and development plans seek to add capability We are well‑placed to continue delivering
to colleagues at all levels and we partner on our track record of profitability and
with like‑minded organisations to offer growth. We are excited about the prospects
broad learning opportunities. Our people are for the Bank; we have the right strategy,
actively involved in leading initiatives beyond business model and people to deliver on
the products and services which we offer, this potential.
including charity engagement, leading green
initiatives, and community social events; each Donald Kerr
underpinning our passion to make a positive Chief Executive Officer
impact on society and the communities 27 March 2025
in which we operate as recognised in our
B Corp accreditation.