Castle Trust Bank has reported pre-tax profits of £3.6m, up from £0.8m, for the financial year ending 30 September 2021.

In addition, in the first five months of this financial year, Castle Trust Bank has already delivered a profit before tax of £4.1m.

The bank expects to originate more than £120m over the second half of the year.

Omni, its retail point of sale business, is delivering record levels of lending in excess of £20m per month through its network of more than 2,200 retailer partners.

Castle Trust Bank has also announced plans to implement a modern SaaS based Property originations platform. This will facilitate entry into the regulated bridge market.

Martin Bischoff, CEO at Castle Trust Bank, said: “Our strong end-of-year results and the fact that we have already delivered more profit in the current financial year than the whole of last year, demonstrate our ability to scale whilst remaining profitable. We are on track to deliver a profit before tax in 2022 which is more than treble last year’s.

“This is all down to the continuous investment we are making in the latest digital technologies and our deep fintech expertise that enables us to provide our customers with seamless journeys.”