Shawbrook delivers jump in profit on higher interest rates and lending growth Banking Challenger bank Shawbrook has posted a jump in annual profit on the back of interest rate hikes and higher lending.
Shawbrook owners mulling second listing attempt in potential boost for City Banking The owners of Shawbrook Bank are reportedly exploring another IPO for the lender after plans for a £2bn blockbuster listing fell through two years ago.
Shawbrook profits soar, almost doubling to £34.8m Shawbrook has reported a 94 per cent rise in underlying pre-tax profit after its recent IPO and amid ongoing concerns of a bank surcharge. The figures Shawbrook, the challenger bank founded in 2011 to fill the gap left by high street lenders when they tightened restrictions on lending to small firms, has performed strongly in [...]
July Budget 2015: Challenger bank share prices plummet – Aldermore, Virgin Money, Shawbrook and OneSavings suffer worst day ever July 8, 2015 Publicly-traded British challenger banks suffered their worst day on record yesterday, as chancellor of the exchequer George Osborne said yesterday that a new corporation tax surcharge would take a significant chunk out of the industry’s profits. Reading-based retail bank Aldermore, which floated on the London Stock Exchange earlier this year, saw its share price [...]
Shawbrook bank shares dip as Iain Cornish becomes chairman July 6, 2015 EX-BANK of England regulator Iain Cornish been appointed as chairman of challenger bank Shawbrook, replacing former RBS boss and Shawbrook chair since 2011 Sir George Mathewson. Cornish left the Bank of England in March to become senior independent director of debt manager Arrow Global and wealth manager St James’s Place. Shawbrook was the last in [...]
Challenger bank Shawbrook appoints new chairman Iain Cornish to replace Sir George Mathewson July 6, 2015 Challenger bank Shawbrook has appointed former Yorkshire Building Society chief executive Iain Cornish as its new chairman. Cornish replaces former RBS boss Sir George Mathewson who will step down as chairman and as director with immediate effect. Cornish is a senior independent director of debt manager Arrow Global and wealth manager St James's Place. Read more: Challenger [...]
Shawbrook share price picks up after successful stock market flotation April 1, 2015 Challenger bank Shawbrook enjoyed a successful stock market debut yesterday, as its share price rose by as much as 6.5 per cent. The lender joined rivals, including Virgin Money and Aldermore among recent floats in the sector. Shawbrook’s shares priced at 290p, but rose as high as 308.75p in trading, before settling back to 302.5 [...]
Challenger bank Shawbrook prices shares at top of range on IPO April 1, 2015 Challenger bank Shawbrook may be late to the IPO party, but that hasn't prevented it from getting its flotation off to a running start, after it priced shares at 290p each, near the top of its range of 255p-305p on its first day of conditional trading. The pricing valued the bank at £725m, raising £90m [...]
Challenger bank Shawbrook’s float succeeds as it covers books March 24, 2015 SHAWBROOK Bank has covered the books in its stock market flotation, successfully attracting enough institutional investors into its shares, City A.M. understands. The challenger is raising £90m in new funds, and is selling a 25 per cent stake, plus an over-allotment option. It follows stock market debuts from Aldermore earlier this month, and from Virgin [...]
Challenger bank Shawbrook jumps on IPO bandwagon March 12, 2015 Shawbrook has become the latest challenger bank to announce plans to list on the London Stock Exchange, with plans to raise about £90m. The announcement of its intention to float follows an impressive showing by rival Aldermore earlier this week, whose shares closed 12 per cent higher on its first day of trading. Its shares [...]