OakNorth has today announced its participation in the ENABLE Guarantee programme, securing a guarantee of £133m from the British Business Bank, the UK government’s economic development bank. OakNorth will use the guarantee to strengthen further its lending support to fast-growth businesses and established property developers and investors. The ENABLE Guarantee programme is designed to encourage […]
OakNorth has seen a 220% increase in its profit-before-tax – up from £10.6m in 2017 to £33.9m in 2018; The bank, which lends £0.5m-£40m to profitable, scale-up, British businesses, also saw its total loan facilities grow by 160% from £850m in 2017 to £2.2bn in 2018; OakNorth has now lent over £3bn since its launch […]
OakNorth, which has lent over £2.7bn to businesses across the UK, has today announced a strategic partnership with ClearBank®. The business will leverage ClearBank®’s platform to provide highly scalable real-time payments and agency banking services. OakNorth will start off by using ClearBank®’s real-time Faster Payments infrastructure, allowing for instant payments. Amir Nooriala, COO of OakNorth, […]
The bank is offering a table-topping rate of 1.85% on its 9-month fixed term deposit account – a product that is only available from two other providers in the market; The UK’s largest banks continue to offer pitiful returns – 0.77% on average for 12-month fixed term accounts offered by the five main high-street banks[1] […]
Since its launch in September 2015, OakNorth has provided loans to several companies based in the North of England, including: Inn Collection Group, Newby, Kexgill, Mabec, Mason Partners and Select Property Group; Its loans have directly helped with the creation of 1,200 new jobs and 2,100 new homes in the North of England, with 9,500 […]
Martin Stewart will join fellow advisory board members, Lord (Adair) Turner, Lord (Francis) Maude, and Nick Lee who was formerly the Head of New Banks at the Bank of England; Martin’s experience will help ensure we can continue building on this positive impact and supporting the SME community, despite potentially challenging economic conditions in the […]