News Column

New lender turns a profit

August 18, 2014


CHALLENGER bank Cambridge & Counties has reported its maiden profit two years after its launch.

The small business specialist, which is owned by Cambridgeshire Local Government Pension Fund and the University of Cambridge's Trinity Hall, delivered a profit of £1m for the six months to the end of June compared to a loss of £700,000 for the same period last year.

Its loan book has grown by 400 per cent to £200m, from £40m last year.

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Source: City A.M. (UK)

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