GB Bank receives £20m capital boost and announces a new chair
Property finance institution GB Bank has secured a £20m capital boost and has announced a number of board level changes.
The bank, which specialises in lending to SME property developers and investors and was originally launched in Newcastle where it maintains a satellite office, has received an extra £16m from Hera Holdings Ltd and an additional £4m from the Teesside Pension Fund.
Hera Holdings Ltd and Teesside Pension Fund are existing investors in GB Bank, having invested £30m and £6m respectively in 2024 to date.
The bank – which announced in summer moving its head office from Middlesbrough to its base in Mayfair, London – also revealed that chair Mark Sismey-Durrant is stepping down to be r
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