Britain’s newest bank open for business
30 August, 2017
category: Latest News
Redwood Bank, Britain’s newest business bank for SMEs, is open for business just over four months after securing its initial banking licence.
Headquartered in Letchworth, Redwood has also opened a Warrington & North West regional office to support growth in the sector in the town and the region.
The bank has a unique ownership. It is wholly-owned by Redwood Financial Partners Ltd, a company controlled by Jonathan and David Rowland, in which Warrington Borough Council has a 33% stake.
As part of this, the council’s executive board has approved an investment of £30m in Redwood as part of the bank’s capital funding.