Recognise Bank has reported a rise of more than 30% in its loan book for the latest financial year, taking it past £400 million.
The bank has also exceeded £500 million in deposits for the first time, marking another milestone in its efforts to expand its presence in the small and medium-sized business market.
As part of its plans to sustain growth, Recognise Bank has confirmed it will open a new office in Milton Keynes. The location, closer to the bank’s London head office, is intended to support collaboration across teams and improve operational oversight as the lender prepares for its next phase.
Founded to offer lending and savings products tailored to small and medium-sized enterprises, Recognise Bank has set out ambitions to work with a wider range of business customers as it continues to scale.
PREPARING FOR THE FUTURE
Simon Bateman (pictured), chief executive of Recognise Bank, said: “Our growth and performance make this the right time to ensure our structure supports what’s next.
“Acting from a position of strength allows us to prepare for the future, not react to challenges and our new Milton Keynes office will help strengthen decision-making and overall business performance.
“This is an important step on our journey to build a stronger, more connected Recognise Bank. One that’s fit for the next stage of our journey, while staying true to the values and service our customers trust.”
