Chetwood Bank has surpassed £5 billion on its balance sheet, marking a fresh milestone for the digital challenger as it continues to scale operations and expand its national footprint.
The Wrexham-headquartered bank, which launched in 2016, reported balance sheet growth from £3.1 billion in March 2024 to £4 billion by May this year, reaching the £5 billion mark just two months later.
The sharp upward trajectory reflects rapid growth in both its mortgage lending and retail savings divisions.
News of the milestone comes as the bank unveils plans to open a fourth UK office in Manchester, complementing existing locations in Wrexham, London and Fleet. The expansion is intended to support the bank’s growing teams and operations as it builds out its digital-first proposition across the UK.
Much of Chetwood’s growth has been driven by its specialist mortgage brands, ModaMortgages and CHL Mortgages for Intermediaries, as well as several forward-flow arrangements.
The bank has also been active in capital markets, maintaining a £2 billion investment portfolio that includes senior positions in warehouse financing facilities supporting other UK lenders to consumers and SMEs.
On the savings side, the bank has broadened its product suite this year to include easy access accounts and ISAs, alongside its established fixed-rate offerings.
“we’ve built a resilient,
diversified balance sheet
that sets us up for
sustainable profitability”
Paul Noble (pictured), chief executive of Chetwood Bank, said: “The speed with which we’ve crossed the £5 billion mark shows that our straightforward approach to savings and mortgages is resonating with customers and brokers alike.
“By pairing specialist-lending expertise with a disciplined treasury strategy, we’ve built a resilient, diversified balance sheet that sets us up for sustainable profitability – and we’re still building momentum.”
