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Adding local short description: "British retail and commercial bank", overriding Wikidata description "retail and commercial bank in the United Kingdom" |
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{{Short description|British retail and commercial bank}}
{{Use dmy dates|date=April 2022}}
{{Infobox company
| name
| logo
| type
| traded_as
| predecessor
| foundation
| founder
| location_city
| location_country = [[England]], [[United Kingdom|UK]]
| locations
| area_served
| key_people
| industry
| products
| services
| revenue ={{increase}} [[Pound sterling|£]]
| operating_income ={{increase}} [[Pound sterling|£]]
| net_income ={{increase}} [[Pound sterling|£]]
| assets
| equity
| owner
| num_employees
| fate
| successor
| parent
| divisions
| subsid
| homepage
| footnotes
}}
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==History==
The bank launched in 2011 after private investors led by
Singers Asset Finance was acquired in March 2012 and then rebranded as Shawbrook Asset Finance in March 2013.<ref>{{cite web|url=http://www.mortgageintroducer.com/singers-rebranded-as-shawbrook-asset-finance/#.Vz96cpErIdV|title=Singers rebranded as Shawbrook Asset Finance|date=4 March 2013|publisher=Mortgage Introducer|accessdate=20 May 2016}}</ref> The bank acquired asset based lender Centric Commercial Finance in June 2014 and subsequently rebranded it as Shawbrook Business Credit.<ref>{{cite web|url=http://www.insidermedia.com/insider/national/116160-shawbrook-buys-centric-commercial-finance/|title=Shawbrook buys Centric Commercial Finance|date=5 June 2014|publisher=Insider Media|accessdate=20 May 2016}}</ref> The bank was the subject of an [[initial public offering]] in April 2015,<ref name=ipo>{{cite web|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11508186/Challenger-bank-Shawbrook-fetches-725m-valuation-on-IPO.html|title=Challenger bank Shawbrook fetches £725m valuation on IPO|publisher=The Telegraph|date=1 April 2015|accessdate=13 June 2015}}</ref> raising £90m of cash to support the capital position and future growth.<ref>{{cite web|url=http://www.ft.com/fastft/2015/04/01/challenger-bank-shawbrook-raises-90m-ipo/|title=Challenger Bank Shawbrook raises £90m from IPO|publisher=FT|date=1 April 2015|accessdate=20 May 2016}}</ref>
A consortium led by [[BC Partners]] and Pollen Street Capital acquired the business for £868 million in July 2017.<ref>{{cite web|url=http://www.cityam.com/266972/victorious-private-equity-consortium-wins-shareholder|title=Victorious private equity consortium wins shareholder approval to take over Shawbrook bank|publisher=City AM|date=19 June 2017}}</ref>
In June 2023, Shawbrook Bank completed the acquisition of specialist lender Bluestone Mortgages Limited (BML) from Bluestone Investment Holdings.<ref>{{Cite web |last=Fowler |first=Ryan |date=2023-06-01 |title=Shawbrook Group finalises acquisition of Bluestone Mortgages |url=https://theintermediary.co.uk/2023/06/shawbrook-group-finalises-acquisition-of-bluestone-mortgages/ |access-date=2023-06-01 |website=The Intermediary - Latest UK mortgage news |language=en-GB}}</ref>
In October 2023, it was revealed that Shawbrook had made a number of unsuccessful takeover offers for [[Metro Bank (United Kingdom)|Metro Bank]] prior to that bank's successful capital raise on 8 October.<ref>{{Cite web |last=Fowler |first=Ryan |date=2023-10-08 |title=Metro Bank knocks back Shawbrook offer while JPMorgan Chase declines to bid, reports |url=https://theintermediary.co.uk/2023/10/metro-bank-knocks-back-shawbrook-offer-while-jpmorgan-chase-declines-to-bid-reports/ |access-date=2023-10-09 |website=The Intermediary - Latest UK mortgage news |language=en-GB}}</ref> At the same time it was also revealed that Shawbrook had made an offer for [[The Co-operative Bank|Co-op Bank]].<ref>{{Cite web |last=Fowler |first=Ryan |date=2023-10-08 |title=Shawbrook Bank makes bid for Co-op Bank while considering new Metro Bank offer, reports |url=https://theintermediary.co.uk/2023/10/shawbrook-bank-makes-bid-for-co-op-bank-while-considering-new-metro-bank-offer-reports/ |access-date=2023-10-09 |website=The Intermediary - Latest UK mortgage news |language=en-GB}}</ref> Co-op Bank had reportedly been looking for a buyer since April 2023, with a deadline set for early October 2023.<ref>{{Cite news |last=Cerqueiro |first=Pablo Mayo |last2=Gonzalez |first2=Andres |last3=Cerqueiro |first3=Pablo Mayo |last4=Gonzalez |first4=Andres |date=2023-09-14 |title=Co-op Bank kicks off sale with early October bid deadline, sources say |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/co-op-bank-kicks-off-sale-with-early-oct-bid-deadline-sources-2023-09-14/ |access-date=2023-10-09}}</ref>
==Operations==
The bank offers loans to small and medium-sized businesses
==References==
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==External links==
*{{official website|http://www.shawbrook.co.uk/}}
{{Portal|Banks}}
{{Commercial and retail banks in the United Kingdom}}
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