Chetwood Bank Passes £5bn Balance Sheet Milestone, Announces Manchester Office Expansion

Chetwood Bank Balance Sheet has now surpassed £5 billion, underscoring its rapid rise as a digital bank. From £3.1bn in March 2024 to £4bn by May 2025, the growth reflects increased demand for its savings and specialist mortgage offerings.

In March 2024, Chetwood Bank’s balance sheet totalled £3.1 billion, reaching £4 billion by May 2025. It has now reached the £5 billion milestone, demonstrating how quickly the bank’s customer base is growing.

The digital challenger bank has reached this latest milestone just as plans were announced to open a fourth office in Manchester in the coming months, adding to the company’s presence in London, Fleet and Wrexham.

Its fast pace of expansion has been driven in part by its specialist mortgage operations, delivered through ModaMortgages and CHL Mortgages for Intermediaries, alongside several forward-flow arrangements.

Chetwood Bank also maintains a £2 billion investment portfolio, including senior positions in warehouse financing facilities that support UK consumer and SME lenders.

Chetwood Bank delivers competitive rates to customers across its savings product range, which has expanded this year to include easy access accounts and ISAs, as well as its pre-existing fixed-term products.

The digital challenger bank prides itself on a no-nonsense approach, delivering fast and reliable financial products to a wide array of customers with minimal friction.

Paul Noble, CEO of Chetwood Bank, said: “The speed with which we’ve crossed the £5 billion 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.

With the Chetwood Bank Balance Sheet now above £5 billion, the bank strengthens its digital-first model and growth in all UK markets.