- 21 August 2022
- 1132
- Developement, Investment, News
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The future of communities across the UK will be improved due to the work of the Chairman of GB Bank. New homes and offices will be built thanks to the funding, and jobs will be supported by secure and competitive saving accounts.
It is incredibly challenging to launch a bank in the UK. The team deserves a lot of credit, and we are excited about the future.
The Teesside Pension Fund is the cornerstone investor of the bank. The investment was made to support the bank’s plans to drive economic growth and invest in local communities.
The Mayor of the Tees Valley said he was very pleased to see the launch of the banks. The ambition of our area is represented by the launch of GB Bank, a huge step forward in levelling up our region.
Good-quality, well-paid jobs are already being created by the headquarters in Centre Square. It shows that you don’t have to leave the place you love and call home to forge a rewarding career in finance and professional services if you bring the bank’s headquarters to Middlesbrough.
Regional property developers, small and medium-sized businesses, and construction companies will be supported with loans from the bank.
Neil Williams, Chief Lending Officer at GB Bank, said that developers are facing a number of challenges. We are helping by working with them to provide quick lending decisions to better enable them to commit to purchasing land, providing competitive fixed interest rates so they can more accurately calculate funding costs together with providing connections to a property ecosystems with local, professional advisors.
All of our loans are tailored to the needs of the developers. The Relationship Managers and Credit Partners meet with the developer early in the appraisal to make sure they have their needs identified. The local decision-making ensures that the developer is supported quickly and efficiently. We have a real passion for the region and look forward to helping regional communities that need it the most.
The full UK banking licence for the new specialist bank was granted on August 16th.
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