GB Bank has seen its total assets increase by almost 117% year-on-year to £2.6bn in the 12 months to 30 September.

The bank also delivered its first full year of post-tax profitability, totalling £5.4m in the year to the end of September, with growth across all key metrics.

Core lending activity expanded rapidly, with loans to customers increasing from £86m to £464m. GB Bank said this was driven by growing demand for its specialist bridging and buy-to-let lending for property investors.

Furthermore, the bank described its funding growth as "equally robust", with customer deposits increasing by £1.2bn to more than £2.3bn.

GB Bank said this expansion of its deposit base has played a key role in supporting asset growth while maintaining a diversified and stable funding profile.

Chief executive officer at GB Bank, Mike Says, concluded: "Delivering our first full year of profitability while achieving such significant growth across the balance sheet is a major milestone for the bank. These results demonstrate the strength of our strategy, the scalability of our platform and the confidence our customers’ and shareholders’ place in the business.

"We've built strong momentum across lending and deposits, while maintaining discipline around capital, risk and costs. With these foundations in place, we are well positioned to continue scaling the bank, growing our lending and building our deposit base."

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