GB Bank’s balance sheet has passed the £2bn mark after receiving a £90m capital injection in May last year.
The bank turned a profit in October, a few months after this investment.
The bank’s property loan portfolio grew to over £200m in the last six months, while paid-up share capital reached around £145m at the end of Q1.
In February, it raised its loan limit to £20m per borrower in response to increased demand, with plans to increase this figure further after its latest capital raise.
Mike Says (pictured), CEO of GB Bank, said: “This has been a period of rapid yet sustainable growth for the bank as we continue to tap significant demand for our fast, flexible financing solutions.
“While we are undoubtedly proud of hitting landmark figures, such as £2 billion on our balance sheet, we are even prouder of reaching sustainable profitability in such a short time since securing our growth capital.
“This provides us with a robust platform for sustained future success – and we look forward to continuing our momentum over the coming months.”
Says added: “At the heart of this success is our incredible, experienced team, driven by our collective mission to be the bank helping the people and businesses that drive our economy to fulfil their ambition, grow, unlock new opportunities, and make a lasting impact.
“We are grateful to our shareholders for their continued support and for providing the fuel that powers our growth, and our customers who continually put their faith in us to provide them with the funding solutions that meet their business needs.”
