Charity Bank reveals record growth

Written by Joe Lepper
10/04/2018

Charity Bank has announced record growth during the first quarter of 2018.

The ethical loan and savings bank, which is owned by charities, trusts and other social purpose organisations, lent £15.2m to charities and the good causes sector during the first three months of 2018, more than in any previous quarter in its history.

Its latest quarterly figures also show that its loan book has grown by 120 per cent since early 2015.

During 2017 it lent £34.1m, up from £27.9 the previous year and £24.7m in 2015. In total it has lent more than £215m to around 650 social sector organisations since 2002.

Charity Bank chief executive Patrick Crawford said: “Despite the challenging and uncertain outlook, charities and social enterprises have continued to take on new projects to address social needs.

“The resulting loan demand from the social sector has continued and shows no sign of slowing.”

Meanwhile, the bank has launched a campaign called ‘Bank On Us’ to promote its latest discounts. Those making a loan enquiry before the end of August and sign a loan agreement by the end of 2018 will face no arrangement fee or contribution towards legal and professional fees.



Related Articles


Diversity
Lauren Weymouth talks to Jeremy Wells of Newton about whether charities think diversity is adequately reflected on their trustee boards

  • Charity Times Annual Conference Event Date: 2nd May 2019 Event Deadline: The Waldorf Hilton, London
  • Better Society Awards Event Date: 23rd May 2019 Event Deadline: 25th January 2019 London Marriott Hotel, Grosvenor Square, London
  • Charity Investment Conference in association with GAM Event Date: 29 November 2018 - 1pm-5pm Event Deadline: Royal Institution, 21 Albemarle St, Mayfair, London, W1S 4BS For booking and enquiries email linda.libetta@charitytimes.com
  • Property Roundtable Event Date: 27th February 2019 Event Deadline: Southplace Hotel, 3 Southplace, London For booking and enquiries email linda.libetta@charitytimes.com
  • Charity Times Awards Event Date: October 2019 Event Deadline: Park Plaza, Westminster Bridge, London
Most read stories...