Castle Trust rebrands
Castle trust bank

Castle Trust rebrands

Castle Trust has rebranded to Castle Trust Bank following the news it has been granted a full banking licence.

In March this year, Castle Trust became authorised with restrictions and, last week, announced it had received its full banking licence by the PRA and FCA.

The conversion of its 30,000 existing investment accounts into savings accounts will take place later this month.

The firm will now operate as Castle Trust Bank, along with a new logo and revamped website to showcase its new offering.

“This was a natural next step for us,” said Martin Bischoff, CEO at Castle Trust Bank.

“Castle Trust has come a long way since the company was founded, growing to serve 200,000 borrowers and savers, so we already benefit from a loyal customer base who have indicated that they would like to do more business with us as we enhance our product range.  

“As we step into the banking world, it seemed fitting that our brand would evolve to reflect that change too. 

“Becoming Castle Trust Bank sets out our stall as a fixture within the banking industry and gives us a platform from which to launch our new propositions.”

Initially, the bank will offer savings products to existing customers reinvesting maturing funds and expects to launch a fresh range of savings products for new customers in late July.  

The existing specialist property lending and Omni Capital Retail Finance arms will continue to offer the same services but plans to introduced enhanced offerings later this year. 

The business expects to grow its specialist lending arm “significantly” as the market emerges from Covid-19, working with brokers to respond to borrower needs and reaching more brokers through clubs and networks. 

There are also plans to expand the Omni Capital Retail Finance offering later in the year.

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