Cynergy Bank locks in £20m facility from British Business Investments


Cynergy Bank has proudly announced its acquisition of a £20m Tier 2 capital facility from British Business Investments.

This robust financial support comes from British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, empowering Cynergy Bank’s ambitious endeavour to stand tall as the UK’s leading ‘human digital’ bank and pioneer in the SME lending arena.

With an innovative approach, Cynergy Bank seamlessly merges the human touch with digital prowess, reshaping traditional banking experiences. The ‘human digital’ model is a game-changer, integrating personalised customer relationship management with full-scale digitisation of classic banking products.

The upshot is a superior suite of digital products and services that cater to the intricate financial requirements of business magnates, real estate entrepreneurs, and family-run enterprises. In the previous year, Cynergy Bank enjoyed a significant profit before tax growth of 66%, touching £50.5m. Furthermore, a 14% net lending surge elevated its overall net lending portfolio to a commendable £3.3bn.

The recent capital infusion will bolster Cynergy Bank’s strategic growth trajectory, targeting an impressive £250m of fresh lending across the SME and property sectors. This move is facilitated by British Business Investments’ Investment Programme, a thoughtful initiative aiming to amplify the financing avenues for small businesses by enhancing the lending prowess of challenger banks and alternative lenders.

Nick Fahy, chief executive, Cynergy Bank, expressed his enthusiasm: “We’re pleased to be working with British Business Investments, and this investment is a truly exciting milestone in our commitment to supporting the financial needs of SMEs and businesses in the UK. This additional funding will boost growth in our business and deliver our strategic objectives over coming years, while also significantly increasing our lending capabilities for SMEs, property entrepreneurs and family businesses.”

Reiterating the commitment to support small businesses, Judith Hartley, CEO, British Business Investments, remarked: “At British Business Investments, our mission is to increase the overall supply and diversity of finance for smaller businesses across the UK. This £20m Tier 2 commitment to Cynergy Bank supports that mission and will help more smaller businesses across the UK access the capital they need to grow.”

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