GB Bank hits £2 billion balance sheet ‘landmark’

A challenger bank is continuing its “rapid” ascent after passing a major financial milestone.

GB Bank has announced its balance sheet has surpassed £2 billion, just months after reaching profitability in October 2024. 

The bank has received £90 million in investment since May last year from backers including majority shareholder Hera Holdings Ltd and the Teesside Pension Fund.

Its paid-up share capital now stands at £145 million. 

Headquartered in Mayfair, London, with operations rooted in the North East, GB Bank is focused on serving SMEs, non-bank lenders and property developers through a range of flexible lending products.

With its property loan portfolio now topping £200 million and its maximum loan limit raised to £20 million per borrower, bosses say the lender is aiming to become a leading funding partner in the UK’s SME and specialist lending markets.

Mike Says, chief executive of GB Bank, said: “This has been a period of rapid yet sustainable growth for the bank as we continue to tap significant demand for our fast, flexible financing solutions. 
 
“While we are undoubtedly proud of hitting landmark figures, such as £2 billion on our balance sheet, we are even prouder of reaching sustainable profitability in such a short time since securing our growth capital. 

“This provides us with a robust platform for sustained future success – and we look forward to continuing our momentum over the coming months. 

“At the heart of this success is our incredible, experienced team, driven by our collective mission to be the bank helping the people and businesses that drive our economy to fulfil their ambition, grow, unlock new opportunities, and make a lasting impact. 

“We are grateful to our shareholders for their continued support and for providing the fuel that powers our growth, and our customers who continually put their faith in us to provide them with the funding solutions that meet their business needs.” 

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →