The bank's IPO in April also generated £82m of new capital, resulting in a CET1 ratio of 15.2% (31 December 2014: 11.6%) and total capital ratio of 17.2% (31 December 2014: 13.9%).
During H1 2015 the Group introduced the ISA product and announced that it is planning to launch a full market Easy Access product in the second half of the year.
Shawbrook said that the Group is on track to deliver against the targets that were made to the public markets during IPO, but pointed out that there have been "two recent unwelcome developments" in the UK.
On 8 July it was announced that an additional tax would be levied on UK Banks with effect from 1 January 2016. Separately on 3 July it was announced that the FSCS limit would be reduced from £85,000 to £75,000 with effect from 1 January 2016.
Interim CEO and CFO, Tom Wood, said:
"Notwithstanding these factors, our focus is to continue to grow our franchise and meet our commitments to all of our stakeholders: customers, shareholders, staff, regulators and the communities in which we live.
"The business remains well placed to respond to the changing regulatory environment and deliver growth by maximising opportunities in our existing markets, capitalising on the embedded growth in our current loan origination capability and working closely with customers and business partners to develop new products and expand into new specialist markets.
"While competition remains high and we saw some slowdown in volumes ahead of the election following a very strong Q1, we remain confident that we will continue to originate good quality, profitable business and remain on track to deliver our targets outlined at the IPO, including £1.6 billion of originations in 2015 and targeted annual net loan book growth of £0.7-0.8 billion.”
