Cambridge & Counties also reported a profit before tax of £10.2m, a fourfold like-for-like increase on the £2.5m it made in the previous year.
Although a number of new competitors entered the market with cheaper loan products, the bank maintained its position by rebalancing its portfolio and developing its refurbishment and bridging capabilities where demand remains strong.
Mike Kirsopp, Chief Executive of Cambridge & Counties Bank, commented: “Despite 2016 showing increased market volatility in the face of international developments and uncertainty caused by the EU referendum, early signs suggest that we are well placed to deliver another strong year of growth in 2016.”
Last year, the bank strengthened its senior management team by appointing Will German as Chief Risk Officer and Rachel Curtis-Bowen joined the board as Executive Director of Customer Experience.
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