Page 9 - CCB_Annual Report_2022

8 Strategic Report 9

Celebrating record results in

our 10th anniversary year

However, as the rest of this Annual Report
shows, notwithstanding the unpropitious
backdrop, the Bank’s performance has held
up well and it is continuing to make strides in our products easier, and by speeding up development. We will miss Simon’s wisdom
growing its business, with strong advances in transactions. In doing so, we are mindful of and perspicacity and wish him well and every
customer loans, deposits and profitability. the Financial Conduct Authority’s initiative success in the next phase of his career.
which makes much more explicit the duty
The key to the Bank’s continuing success in of financial institutions to ensure a good We are also sorry that Simon Lindley, our
difficult times is a forensic focus on its chosen outcome for their customers. This initiative Chief Development Officer, decided to
sectors of real estate lending and asset finance aligns closely with our own view of the retire at the end of the year. Simon brought
for SMEs across the UK. Our strategy of going importance of looking after our customers’ to the Bank over thirty years’ experience in
to market through well managed relationships interests as a natural part of an effective financial services business development and
with brokers and borrowers continues to and sustainable business model and we are property lending and played a major part
deliver good growth and robust returns. A key supportive of it. in building Cambridge & Counties’ market
component of servicing those relationships position and commercial success. He was
is smart manual underwriting supported by An important element of the success of an integral part of the senior executive team
well-honed customer service and strong Cambridge & Counties from early days has and his measured, thoughtful and balanced
credit risk management models and tools. been a recognition of the importance of contribution to the team, combined with his
We have invested significant sums in both, the good environmental, social and governance sure touch in generating good business will
benefits of which are explored further in the (ESG) standards and reporting. The Bank be much missed. We all thank Simon for his
following sections. achieved carbon neutral plus status in 2019, major contribution to the Bank’s success and
putting it at the forefront of the drive to a wish him a happy and fulfilling retirement.
Our capital base remains strong as we sustainable future. As part of our continuing
re-invest our significant trading profits, giving commitment to be a responsible bank we Mike Peck has joined the Board as our new
us some of the strongest capital ratios in are exploring membership of B Corp, a Audit Committee Chair. Mike was a senior
the Specialist Bank sector. We believe that a global initiative which helps companies audit partner at KPMG, working in the
continuing strong capital base is a source of to better understand and manage their financial sector with some of the UK’s major
competitive advantage and are seeing benefits environmental and social impact. More financial institutions as his clients. He brings
as a flight to quality takes place in the market. information on our sustainability work is a wealth of experience of banking in the
Chair’s statement As noted above, the strong performance given in the relevant sections later in the UK and Middle East and is a very welcome
reported in the following pages would not Annual Report. addition to the Board.
have been possible without the commitment
Overview Conclusion
and hard work of our excellent people. Led Our Senior Team
Cambridge & Counties Bank celebrated by Donald Kerr and the senior executives, At the end of September Simon Moore Cambridge & Counties enters 2023 in good
its tenth anniversary in 2022, posting our team has moved on from the pandemic, retired as Chair after ten years’ service shape. A combination of a robust capital
a record set of results despite many returning to more normal working routines, as a non-executive director and Chair of base, good underlying systems, strong
worldwide headwinds. In 2012 the Bank whilst taking advantage of the best of the the Bank. Simon joined the Board in 2012 relationships with brokers and customers,
rose, phoenix like, from the chaos following hybrid working model. I would like to pay and became Chair in 2016. He led the and deep knowledge of the SME market and
the 2007/8 financial crash, aiming to be a a particular tribute to all of the team and to Board very effectively through a period its associated risks, means that we are well
straightforward bank servicing small and thank them for their unstinting efforts during of significant growth, making a huge positioned to capitalise on the opportunities
medium sized enterprises by providing the last year. contribution to establishing the Bank as that exist in the market, notwithstanding
tailored financing and a home for the cash a significant player in the Specialist Bank continuing headwinds, which are likely to
resources of smaller businesses and others. Future Strategy sector, ensuring always that the Bank’s make this a tough year for the UK economy.
That it is now a mature, profitable and robust The Bank remains committed to its strategy strategy was clearly defined and articulated, The remainder of the Annual Report explores
provider of services to the SME sector, of servicing the SME market with manually whilst developing its leadership team these themes, describing the Bank’s progress
punching its weight as a Specialist Bank, is underwritten focused products in real estate and management structures, so that the through 2022 and our future plans.
a testament to the foresight of its founders and asset finance. Our rolling three-year required skills were in place to deliver the
and the skill, energy and commitment of its plan shows that continuing with this strategy strategy. Simon also ensured that the Board
people over the last ten years.
will deliver sustainable profitable growth for demanded high values and standards of
Our people’s energy and commitment has Cambridge & Counties. behaviour across the organisation. The
seldom been tested more thoroughly than As part of this growth plan, we continue to Bank owes him a great debt of gratitude for
by the now familiar cocktail of geo-political improve the technology underpinning our his contribution as Chair over the last six
instability, economic setbacks as a result manual underwriting processes, further years and, as his successor, I am extremely Patrick Newberry
of the Ukrainian War, and continuing developing our customers’ experience when fortunate to inherit a strong Board and Chair
environmental concerns, from all of which dealing with the Bank by making access to executive team which is well equipped to 30 March 2023
Cambridge & Counties is far from immune. lead the Bank through its next phase of