Banks looks to build on 50 years of success

A North East property, housebuilding and mining firm is marking a major milestone following decades of growth.

The Banks Group is celebrating its 50th anniversary, having been founded in Tow Law in 1976 as HJ Banks & Co by Harry Banks. 

Originally established as a surface coal mining company, Banks developed and restored more than 115 sites before diversifying into transport, property, landfill and plant maintenance during the 1980s.

In recent years, the family-owned business, which is headquartered in Meadowfield, County Durham, has continued to evolve, moving into gypsum mining following the end of UK coal mining in 2020 and expanding its property and housebuilding activities through Banks Homes.

The company also built a significant renewable energy business, generating more than three million MWh of electricity before selling Banks Renewables to Brookfield Asset Management in 2023.

Alongside its commercial growth, Banks has contributed more than £7.5 million to community and environmental projects, with further investment planned as it looks to the future.

Harry Banks OBE DL said: “The company’s history is one of continuing innovation and evolution, and of investing in both emerging commercial opportunities and the people who are turning them into successful divisions of our business.

“This process is continuing with the launch and rapid development of our Banks Homes business, which is now becoming established as a successful regional housebuilder and is well set to deliver substantial numbers of high-quality homes across the region for many years to come.

“Our Development with Care approach has always been fundamental to the way we have worked right through our history and continues to set the standard for how tangible, long-term benefits can be delivered to the communities in which we’re active.

“We’re immensely proud of our County Durham and North East heritage, which has been the foundation on which our growth, diversification and success has been based, and to be celebrating it through our 50th year.”

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