Banking institution, Chetwood, announced plans to open a new office in Manchester, signifying a broader expansion across the nation.
Chetwood Bank, the UK-based digital bank, has announced the opening of a new office in Manchester as part of its national expansion strategy. The bank's balance sheet has surpassed $6.7 billion, reflecting its steady growth.
The new office will support Chetwood Bank's specialist lending and savings propositions. Paul Noble, the CEO of Chetwood Bank, expressed that the bank's strategy pairs specialist-lending expertise with a disciplined treasury strategy.
The Manchester hub will accommodate roles in mortgage operations, technology, and risk. This expansion is a significant step towards Chetwood Bank's goal of scaling responsibly, deepening broker partnerships, and delivering simple, fair, and technology-enabled financial products.
Chetwood Bank's digital operating model offers customers a seamless experience across savings and mortgage products. Recent enhancements to its savings platform include the addition of easy access accounts and ISAs.
The bank's growth has been supported by forward-flow arrangements and a £2 billion investment portfolio. However, the CEO did not disclose specific growth figures beyond £5 billion in the balance sheet.
Paul Noble stated that the bank's approach to savings and mortgages is resonating with customers and brokers. The bank remains focused on building momentum and maintaining a resilient, diversified balance sheet.
It's worth noting that the expansion does not involve any partnerships or investments from Whitecap Resources, a Canadian energy company. The search results do not indicate that Whitecap has joined a FinTech section to foster growth.
Chetwood Bank's growth includes senior positions in warehouse financing structures. The bank's strategy is set up for sustainable profitability, according to Paul Noble. The expansion into Manchester is a testament to the bank's commitment to delivering innovative digital banking solutions to its customers.
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