GB Bank secures GBP 85 million investment deal

Monday 20 May 2024 15:15 CET | News

Finance institution GB Bank has successfully completed a GBP 85 million investment deal aimed to support its growth.


The investment, secured from new investor Hera Holdings and existing shareholder the Teesside Pension Fund, marks an important moment for the bank's future operations. Hera Holdings, a Jersey-based company, will inject an initial GBP 40 million into GB Bank over the next year, with plans for an additional GBP 40 million investment over the following two years. This influx of capital is expected to enhance GB Bank's funding capabilities, particularly for property investments and regeneration projects across the UK. 

The CEO and co-founder of GB Bank expressed enthusiasm for the investment, emphasising its potential to support a broader range of property developers and investors while maintaining a commitment to great customer service. The Teesside Pension Fund, an original investor in GB Bank, has also shown continued support by contributing an additional GBP 5 million to the institution.


Finance institution GB Bank has successfully completed a GBP 85 million investment deal aimed to support its growth.


How will GBP Bank use the new funds? 

The investment is anticipated to support the quick expansion of GB Bank, enabling it to increase its lending capabilities and offer more flexible financing options. This includes extending funding for specialist buy-to-let finance, commercial and residential bridging solutions, and commercial mortgages. 

Since obtaining a full banking authorisation in August 2022, the institution has already approved over GBP 80 million in loans for property projects and attracted deposits from savers across the UK. According to GB Bank, its recent growth reflects its commitment to championing property investment and regeneration throughout the UK.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: funding, investment, banks, financial institutions
Categories: Banking & Fintech
Companies: GB Bank
Countries: United Kingdom
This article is part of category

Banking & Fintech

GB Bank

Discover all the Company news on GB Bank and other articles related to GB Bank in The Paypers News, Reports, and insights on the payments and fintech industry: