Shawbrook Bank has passed the £1 billion barrier in lending to SMEs and personal customers in the UK.

The bank launched less than three years ago and broke even after 16 months.

Shawbrook has now lent £766 million to SMEs and almost £369 million to individuals across the UK since 2011.

Ian Henderson, CEO of Shawbrook Bank, said: “Reaching this milestone so quickly is a great feat for Shawbrook, and one which we are very proud of. We believe our rapid growth is testament to the need for a bank that takes a flexible and efficient approach to lending, combined with an excellent service for brokers and clients alike.

“Our success is thanks in no small part to our network of specialist brokers. The relationship that we have with our brokers is incredibly important to us – their expertise and determination is invaluable.

“We take our brokers’ feedback very seriously, and give it careful consideration whenever our teams are working on developments to our products and processes.

“It’s a model which we’re committed to, and we look forward to completing many more deals with our broker partners in the future.”