Atom bank has passed £1bn in commercial mortgage completions, marking a “significant” milestone for the digital lender.
This follows the lender's strongest ever financial results which were published last week.
In these results, operating profit grew to £27mn, a 600 per cent increase on last year, while costs rose by just 4 per cent.
The bank saw a significant growth in commercial mortgages, ending the year with balances of more than £600mn, an increase of 19 per cent on the previous year.
Atom bank head of business lending, Tom Renwick, said: “We know what it’s like to start a business, we’ve been there and done it, so we are fiercely passionate about helping SMEs wherever they are on their journey,” he said.
“In the eight years since Atom bank launched, we have sought to do the right thing by brokers and their clients by taking on board their feedback, which has been invaluable in improving and building our presence in the market.
“Over the last 12 months in particular we have had a laser focus on automating and digitising the process where possible, delivering a faster and smoother experience, and we have seen huge improvements which we know have been valued.
“We will celebrate this milestone and want to thank our intermediary partners for their support over the years.
“Looking ahead, we are determined to keep innovating and identifying ways in which we can deliver even greater levels of support to the nation’s SMEs, so watch this space.”
tom.dunstan@ft.com
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