Page 13 - 86395_CCB - 2024 Annual Report (web)

13

The journey to

becoming the
“specialist SME

bank of choice”
continues to be

our ambition.

Our Purpose and Lending

Business Model The Bank’s commercial real estate loans
are secured on property. We lend to
experienced commercial and residential
Purpose statement property investors as well as to owner
occupied businesses to invest in their own
Cambridge & Counties Bank is a UK Bank commercial premises.
that specialises in providing lending and The Bank provides finance for
deposit products for Small and Medium businesses to acquire essential assets
Enterprises (SMEs).
such as equipment, plant, machinery, and
vehicles, using hire purchase and finance
Ownership
lease facilities. The Bank also provides
Established in June 2012, Cambridge & finance for the purchase of classic cars using
Counties Bank has a stable and supportive hire purchase and finance lease products.
ownership structure being jointly owned
by Trinity Hall, a college of the University Deposits
of Cambridge, and Cambridgeshire County The Bank’s lending is primarily funded by
Council as Administering Authority of
the acquisition of UK savings balances. We
the Cambridgeshire Local Government
offer a range of deposit accounts that are
Pension Fund.
available directly to business customers.
The Bank is authorised by the
These accounts are also available to retail
Prudential Regulation Authority, regulated customers through a network of Deposit
by the Financial Conduct Authority and Intermediaries. Business customers include
the Prudential Regulation Authority, and broader organisations such as charities,
is registered under the Financial Services clubs, societies, and associations.
Compensation Scheme.

We have a simple and Section 172 Companies Act
proven Business Model 2006 Statement

Statement by the Directors in performance
Distribution network
of their statutory duties
Cambridge & Counties Bank provides The Board of Directors of Cambridge
lending products through a network & Counties Bank Limited believe, both
of relationship managers who deal via individually and together, that they have
business introducers as well as directly with acted in what they consider good faith,
customers. We seek to be straight forward would be most likely to promote the
and easy to deal with in our interactions success of the Company for the benefit
with introducers and customers and deliver of its members as a whole (having regard
a banking experience that attracts and
to the stakeholders and matters set out in
retains customers. The Bank delivers a
s172(1) (a‑f) of the Companies Act 2006) in
range of savings accounts via the internet,
the decisions taken during the year ended
post, and savings intermediaries.
31 December 2024.