UK challenger bank OakNorth has hired three new senior executives in anticipation of higher lending demand post-Brexit; Georgy Naydenov and Stuart Blair will join OakNorth as debt finance directors and David Webley was hired as a credit director; the bank's loan book has grown by 300% since the June referendum vote with loans of 300 million British pounds ($368.85 million); for 2017 it anticipates lending over 500 million British pounds ($614.75 million). Source
There has been a healthy level of new funding deals closed in recent weeks. What we want to do in...
Rishi Khosla, chief executive and co-founder of OakNorth, told CNBC that eventually the company plans to make the move into China; "It is going to be a market that we will go into. It's just a question of when and how rather than if," Khosla explained at a fintech event last week.; talk of a move comes after China’s new central bank head said he is willing to open the market to foreign companies; OakNorth has said they are in discussions with a variety of countries across the globe about expansion plan. Source.
SoftBank’s Vision Fund is planning to invest in the British banking startup according to sources; if it goes through it...
Leading UK challenger bank, OakNorth, has released its 2018 results showing that profits increased to £33.9 million, a 220% increase...
Government-owned British Business Bank has added challenger bank OakNorth to its Help to Grow program; allows the company to receive loan funding of up to 2 million British pounds ($2.43 million); OakNorth is the first challenger bank to join the Help to Grow program; the funding follows a recent announcement of three new executive hires for OakNorth to support anticipated lending of 500 million British pounds ($608.39 million) in 2017. Source
UK based digital bank OakNorth reported an annual profit of $149mn, becoming the first digital bank to do so; in their second year of full operations the bank has seen their loan book triple in size and deposits double in size; Rishi Khosla, OakNorth chief executive, told the Financial Times, “we build them for profit and on strong foundations so as you grow you’re scaling a real business rather than what happens to a lot of fintech where you just keep building for top-line or number of customers, but don’t necessarily have the strongest business model.” Source.
OakNorth, a successful new challenger bank in the UK, is calling on the UK Treasury to use Brexit as an...
Speaking at an event in London today the CFO of OakNorth, Cristina Alba Ochoa, said that her company plans to...
Two of the top digital banks are now joining forces to offer savings accounts; Monzo and OakNorth are teaming up...