Shawbrook Bank

Shawbrook Bank Limited is a retail and commercial bank in the United Kingdom. It is an operating entity of Shawbrook Group plc which was listed on the London Stock Exchange until it was acquired by a consortium led by BC Partners and Pollen Street Capital in July 2017.

Shawbrook Bank Limited
Limited company
IndustryFinancial services
Founded2011
Headquarters
Brentwood
,
England, UK
Key people
John Callender (Chairman)
Ian Cowie
(CEO)
ProductsBanking
Revenue£197.1 million (2016)[1]
£88.2 million (2016)[1]
£64.8 million (2016)[1]
ParentShawbrook Group PLC
Websitewww.shawbrook.co.uk

History

The bank launched in 2011 after private investors led by RBS Equity Finance, which was later spun off from the Royal Bank of Scotland Group and became Pollen Street Capital, bought Whiteaway Laidlaw Bank from the Manchester Building Society.[2] Whiteaway Laidlaw Bank rebranded as Shawbrook Bank in October 2011.[3]

Singers Asset Finance was acquired in March 2012 and then rebranded as Shawbrook Asset Finance in March 2013.[4] The bank acquired asset based lender Centric Commercial Finance in June 2014 and subsequently rebranded it as Shawbrook Business Credit.[5] The bank was the subject of an initial public offering in April 2015,[6] raising £90m of cash to support the capital position and future growth.[7]

A consortium led by BC Partners and Pollen Street Capital acquired the business for £868 million in July 2017.[8]

Operations

The bank offers loans to small and medium-sized businesses which are unable to obtain finance from the main commercial banks.[6]

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References
  1. "Annual Report 2016" (PDF). Shawbrook Bank. Retrieved 23 April 2017.
  2. "RBS deal for Whiteaway Laidlaw bank 'deeply worrying', says Chuka Umunna MP". The Telegraph. 1 February 2011. Retrieved 13 June 2015.
  3. "Whiteaway Laidlaw Bank rebrands to Shawbrook Bank". Mortgage Strategy. 17 October 2011. Retrieved 5 October 2014.
  4. "Singers rebranded as Shawbrook Asset Finance". Mortgage Introducer. 4 March 2013. Retrieved 20 May 2016.
  5. "Shawbrook buys Centric Commercial Finance". Insider Media. 5 June 2014. Retrieved 20 May 2016.
  6. "Challenger bank Shawbrook fetches £725m valuation on IPO". The Telegraph. 1 April 2015. Retrieved 13 June 2015.
  7. "Challenger Bank Shawbrook raises £90m from IPO". FT. 1 April 2015. Retrieved 20 May 2016.
  8. "Victorious private equity consortium wins shareholder approval to take over Shawbrook bank". City AM. 19 June 2017.
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