Chetwood Bank has announced that its balance sheet has exceeded £5bn for the first time, increasing by £1bn between May and June 2025.

The bank said that the update marks another step in its "rapid growth" plans.

In March 2024, Chetwood’s balance sheet totalled £3.1bn and reached £4bn in May 2025.

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

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

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

Chief executive officer at Chetwood Bank, Paul Noble, said: "The speed with which we’ve crossed the £5bn 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."

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