Shawbrook Bank

Last updated

Shawbrook Bank Limited
Company type Limited company
Industry Financial services
Founded1988
Headquarters
London
,
England, UK
Key people
John Callender (Chairman)
Marcelino Castrillo
(CEO)
ProductsBanking
RevenueIncrease2.svg £386.1 million (2021) [1]
Increase2.svg £197.2 million (2021) [1]
Increase2.svg £149.3 million (2021) [1]
Parent Shawbrook Group PLC
Website www.shawbrook.co.uk

Shawbrook Bank Limited is a British retail and commercial bank based in the United Kingdom. It is an operating entity of Shawbrook Group plc, which was listed on the London Stock Exchange until it was acquired by a consortium led by BC Partners and Pollen Street Capital in July 2017.

Contents

History

The bank has its origins in a department store chain, Whiteaway Laidlaw, which operated mainly in Asia and was established in 1877. [2] Great Universal Stores bought the store chain in 1957. [3]

The store chain included several finance arms including Whiteaway Laidlaw Bank which was offered banking facilities to small businesses and personal customers and which it incorporated as a separate company in February 1988. [4]

Home Retail Group inherited the bank on its demerger from GUS in July 2006 [5] and then sold it to Manchester Building Society in March 2007. [6]

In February 2011, private investors led by RBS Equity Finance, which was later spun off from the Royal Bank of Scotland Group and became Pollen Street Capital, bought Whiteaway Laidlaw Bank. [7] Whiteaway Laidlaw Bank rebranded as Shawbrook Bank in October 2011. [8]

Singers Asset Finance was acquired in March 2012 and then rebranded as Shawbrook Asset Finance in March 2013. [9] The bank acquired asset based lender Centric Commercial Finance in June 2014 and subsequently rebranded it as Shawbrook Business Credit. [10] The bank was the subject of an initial public offering in April 2015, [11] raising £90 million of cash to support the capital position and future growth. [12]

A consortium led by BC Partners and Pollen Street Capital acquired the business for £868 million in July 2017. [13]

In June 2023, Shawbrook Bank completed the acquisition of specialist lender Bluestone Mortgages Limited (BML) from Bluestone Investment Holdings. [14]

In October 2023, it was revealed that Shawbrook had made a number of unsuccessful takeover offers for Metro Bank prior to that bank's successful capital raise on 8 October. [15] At the same time it was also revealed that Shawbrook had made an offer for Co-op Bank. [16] Co-op Bank had reportedly been looking for a buyer since April 2023, with a deadline set for early October 2023. [17]

In October 2025, the company's holding group announced plans to list a minimum of £200 million worth of shares on the London Stock Exchange. [18]

Operations

The bank offers loans to small and medium-sized businesses that are unable to obtain finance from the main commercial banks. [11]

References

  1. 1 2 3 "Annual Report 2021" (PDF). Shawbrook Bank. p. 175. Retrieved 11 July 2022.
  2. ↑ "Whiteaway, Laidlaw & Co Ltd". hawleysheffieldknives.com. Retrieved 25 April 2024.
  3. ↑ Trotman-Dickenson, D. I (17 May 2014). Economic Workbook and Data: A Tutorial Volume for Students. Elsevier. p. 157. ISBN   9781483158112.
  4. ↑ "Shawbrook Bank". Companies House. Retrieved 7 October 2025.
  5. ↑ "GUS reveals demerger plans". Investors Chronicle. Retrieved 28 March 2015.
  6. ↑ "Manchester BS buys Whiteaway Bank". Money Marketing. 1 March 2007. Retrieved 7 October 2025.
  7. ↑ "RBS deal for Whiteaway Laidlaw bank 'deeply worrying', says Chuka Umunna MP". The Telegraph. 1 February 2011. Retrieved 13 June 2015.
  8. ↑ "Whiteaway Laidlaw Bank rebrands to Shawbrook Bank". Mortgage Strategy. 17 October 2011. Retrieved 5 October 2014.
  9. ↑ "Singers rebranded as Shawbrook Asset Finance". Mortgage Introducer. 4 March 2013. Retrieved 20 May 2016.
  10. ↑ "Shawbrook buys Centric Commercial Finance". Insider Media. 5 June 2014. Retrieved 20 May 2016.
  11. 1 2 "Challenger bank Shawbrook fetches £725m valuation on IPO". The Telegraph. 1 April 2015. Retrieved 13 June 2015.
  12. ↑ "Challenger Bank Shawbrook raises £90m from IPO". FT. 1 April 2015. Retrieved 20 May 2016.
  13. ↑ "Victorious private equity consortium wins shareholder approval to take over Shawbrook bank". City AM. 19 June 2017.
  14. ↑ Fowler, Ryan (1 June 2023). "Shawbrook Group finalises acquisition of Bluestone Mortgages". The Intermediary - Latest UK mortgage news. Retrieved 1 June 2023.
  15. ↑ Fowler, Ryan (8 October 2023). "Metro Bank knocks back Shawbrook offer while JPMorgan Chase declines to bid, reports". The Intermediary - Latest UK mortgage news. Retrieved 9 October 2023.
  16. ↑ Fowler, Ryan (8 October 2023). "Shawbrook Bank makes bid for Co-op Bank while considering new Metro Bank offer, reports". The Intermediary - Latest UK mortgage news. Retrieved 9 October 2023.
  17. ↑ Cerqueiro, Pablo Mayo; Gonzalez, Andres; Cerqueiro, Pablo Mayo; Gonzalez, Andres (14 September 2023). "Co-op Bank kicks off sale with early October bid deadline, sources say". Reuters. Retrieved 9 October 2023.
  18. ↑ Hosking, Patrick (6 October 2025). "Shawbrook confirms plans for £2bn London float". www.thetimes.com. Retrieved 6 October 2025.
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