Castle Trust delivered a Profit Before Tax of £4.1m in the first five months of the financial year (1 Oct 2021 to 28 Feb 22), which is more than it achieved in the whole of 2021.
Property lending has continued to build momentum and is expected to originate more than £120m over the second half of the year.
Omni, a 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. It is on course to become the first-choice provider for the UK’s mid-sized retailers.
While Castle Trust Bank’s digital savings accounts have helped customers to save more than £120m in the last three months.
Castle Trust Bank has announced plans to implement a modern SaaS based property originations platform.
This significant investment will transform how it brings its specialist UK property proposition to intermediaries and facilitate entry into the regulated bridge market.
Martin Bischoff (pictured), 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.”
