Chetwood Bank has announced that it has surpassed £4 billion in total customer deposits across the bank’s savings products and flows from distribution partners.
The Wrexham-based bank said it had focused on” delivering reliable, competitive savings products” to customers across its entire product range, with a goal of establishing itself as a leading challenger bank in the UK.
The £4 billion figure is totalled from Chetwood Bank deposits, deposits to the bank’s SmartSave product and flows from distribution partners.
The milestone comes shortly after the launch of Chetwood Bank’s new range of easy access and fixed rate savings products.
Paul Noble, CEO of Chetwood Bank, said:
“Reaching £4 billion in deposits shows that our focus on getting the basics right and putting savers first is resonating with people across the country. It’s a clear sign that people value simple, reliable products they can stick with.
“It’s a promising period for us. We’re growing steadily across every arm of the business, with big plans for new and exciting developments. We’re grateful to everyone who has put their trust in us and are excited for them to see what comes next.”
Ben Mitchell, Director of Savings, added:
“Getting to this point reflects the strength of the relationships we’re building with our savers. We listen carefully to what customers want and respond with products that meet their needs, providing a frictionless savings experience throughout.”
