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.
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.
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