GB Bank Secures £85M Investment to Drive Expansion

GB Bank, a specialist property finance bank based in Middlesbrough, UK, has secured an £85 million investment from Hera Holdings and the Teesside Pension Fund.

Hera Holdings will invest £40 million over the next 12 months, with an additional £40 million planned for 2025 and 2026. The Teesside Pension Fund is contributing £5 million to the funding round.

Founded in 2017, GB Bank focuses on financing commercial and residential property developments in underserved areas of the UK. Since securing its full banking license in 2022, the bank has approved over £80 million in loans for more than 100 property projects across the UK, and has attracted over £300 million in deposits.

The new investment will enhance GB Bank’s lending capabilities, allowing it to offer funding up to £10 million and up to 80% Loan To Value. The bank plans to expand its customer base to include portfolio landlords, expatriates, and foreign nationals.

The funding will also support GB Bank’s capacity for commercial owner-occupier and investment mortgages, as well as commercial and residential bridging solutions. The bank aims to increase its lending to £500 million over the next 12 months and plans to double its workforce this year.

Earlier this year, GB Bank appointed industry veteran Mark Sismey-Durrant as its new chair.