Cambridge & Counties Bank reported a 15% year-on-year rise in gross new lending for 2024, reaching £376 million. The growth was driven by continued property and asset finance strength, despite a cooling interest rate environment.
The bank’s pre-tax profits stood at £35.8 million for the year. Property finance drawdowns totalled over £285 million, marking a third consecutive year of growth in that core segment. Asset finance lending rose sharply, up 39% to £89 million.
Finance for classic, vintage, and sports cars increased notably, climbing 41% to £72 million. Customer loan balances rose 11% to £1.23 billion, while customer deposits grew 10% to £1.27 billion.
The lender invested heavily in operational infrastructure during the year, including new offices in Manchester and Reading to support asset finance. Headcount increased by 8%, ending the year with 243 employees.
2024 also saw the expansion of its lending portfolio with new offerings such as development finance and more fixed-rate products. The bank continues to focus on SMEs and underserved segments of the UK market, aiming to support business investment and property growth.
