Shawbrook PLC (LON:SHAW) underlined its credentials as one of the strongest of the challenger bank breed as new loans rose by 23% in its latest quarter.
Driven by its property finance business, £1.5bn of new loans were written over the three months with the book at the end of September up 19% year to date to over £4bn.
Brexit had had a minimal impact on the business, added Steve Pateman, chief executive.
The August reduction in interest rates also meant a tailwind for net lending margins, which held at 5.6%.
“We continue to make good progress in each of our divisions: the Property Finance division has achieved record levels of originations in Q3 despite the usual slowdown in the property market during August,” said Pateman.
Deals in the consumer division with Saga and a new direct to consumer platform will boost business here, he added.
Shares soared 12% to 237p.