• New ‘Champion of the North’ challenger GB Bank unveiled
• New lender focused on underserved regions of the UK will fund almost 20,000 homes and several million square feet of commercial real estate, supporting the creation of over 100,000 jobs
• New bank chaired by former Monzo and Starling founder launched to close SME property development funding gap
• Bank raises additional 28 million GBP in funding following award of banking licence
26 October 2021 – ‘Champion of the North’ GBB today received its UK banking licence (Authorised with restrictions or ‘AWR’), which means it has been authorised and regulated to trade with restrictions by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).
Now trading as GB Bank, it will support property developers in regions of the UK that have been forgotten about by addressing the shortage of funding required to level up and get Britain building again. It will have...