Chetwood Bank has surpassed a £5 billion balance sheet milestone, reflecting rapid growth in its digital-first banking operations. The bank also announces the opening of a fourth office in Manchester, further expanding its UK presence. Specialised mortgage operations and a £2 billion investment portfolio contribute to its continued success and strategic expansion.
Chetwood Bank, a leading UK-based digital challenger, announces that its balance sheet has now exceeded £5billion. This achievement highlights another significant step in the bank’s period of rapid growth. Earlier in March 2024, the bank’s balance sheet stood at £3.1billion and rose to £4billion by May 2025. The crossing of the £5billion threshold demonstrates the accelerating pace at which Chetwood Bank is growing its customer base and balance sheet.
Specialist Mortgage Operations and Investment Strategy
A substantial driver behind this expansion is Chetwood Bank’s strong presence in the specialist mortgage market. The bank delivers these services under the ModaMortgages and CHL Mortgages for Intermediaries brands. In addition, several forward-flow arrangements have contributed to the balanced and resilient growth of its lending portfolio.
Chetwood Bank also maintains a diversified £2billion investment portfolio. This includes senior positions in warehouse financing facilities, supporting a range of UK consumer and SME lenders. This disciplined treasury strategy supports the bank’s goal of achieving sustainable profitability.
Broader Product Offerings and Customer Focus
The bank continues to enhance its range of savings products. Chetwood Bank now offers easy access accounts and ISAs alongside its pre-existing fixed-term products, providing more choice and flexibility for savers. The bank’s reputation for delivering competitive rates and a straightforward, digital-first approach is resonating strongly with customers and brokers.
In line with its continuing growth, Chetwood Bank is preparing to open a fourth office in Manchester, complementing existing locations in London, Fleet, and Wrexham. The Manchester office is expected to support the bank’s expanding teams and enable further growth in coming months.
Paul Noble, CEO of Chetwood Bank, notes the momentum behind the recent achievements:
“The speed with which we’ve crossed the £5billion mark shows that our straightforward approach to savings and mortgages is resonating with customers and brokers alike. By pairing specialist-lending expertise with a disciplined treasury strategy, we’ve built a resilient, diversified balance sheet that sets us up for sustainable profitability – and we’re still building momentum.”
About Chetwood Bank
Chetwood Bank is a UK-based digital challenger bank that aims to simplify personal finance. The bank offers straightforward, digital-first banking products prioritising ease of access, fair pricing, and transparency. Chetwood Bank is committed to providing fast, reliable financial products with minimal friction, making banking easier for customers across the UK.
Chetwood Bank and ModaMortgages are trading names of Chetwood Financial Limited. The company is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority under registration number 740551. It is also registered with the Information Commissioner’s Office and a member of CIFAS, the UK’s leading fraud prevention service. Chetwood Financial Limited is headquartered in Wrexham, Wales.
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