Wrexham headquartered Chetwood Bank has seen its balance sheet exceed £5bn.
In March last year its balance sheet totalled £3.1bn before reaching £4bn in May. It has now reached the £5bn milestone as it continues to grow customer deposits.
The bank has also announced it is opening a fourth office in Manchester in the coming months, adding to its presence in London, Fleet and Wrexham.
Its expansion has been driven in part by its specialist mortgage operations, delivered through ModaMortgages and CHL Mortgages for Intermediaries, alongside several forward-flow arrangements.
Chetwood also maintains a £2bn investment portfolio, including senior positions in warehouse financing facilities that support Ƶ consumer and SME lenders. Its saving products have expanded this year to include easy access accounts and ISAs, as well as its pre-existing fixed-term products.
Paul Noble, chief executive of Chetwood Bank, said: “The speed with which we’ve crossed the £5bn mark shows that our straightforward approach to savings and mortgages is resonating with customers and brokers alike.
By pairing specialist-lending expertise with a disciplined treasury strategy, we’ve built a resilient, diversified balance sheet that sets us up for sustainable profitability – and we’re still building momentum.”
Founded in 2016, Chetwood was granted a full Ƶ banking licence in December 2018.
