Originations and loans to customers grew 27% and 23% respectively, and in its interim statement the Group said it was on track to deliver full year originations in excess of £1.6bn and net lending growth of £0.7bn - £0.8bn.
Commercial Mortgages increased originations by 23% to £441m in the nine months to 30 September 2015 and expanded its product offering, including successful entry into the regulated short term lending market.
The Consumer division delivered 36% growth in new originations to £64m, and has recently launched the full roll out of its personal loan proposition.
Shawbrook also said it saw strong growth in its new ISA products and now plans to fully launch an Easy Access offering in Q4 2015 following a successful pilot.
Tom Wood, Interim CEO and CFO said:
“These results continue to demonstrate the successful execution of our strategy and we are pleased that the Group continues to deliver strong growth, with originations and loans to customers up 27% and 23% respectively, driven by growing demand for lending from UK SMEs. We also significantly increased profitability during the period, with underlying PBT up 68% whilst maintaining Net Interest Margin at 6.1%. Commercial Mortgages, Asset Finance, Secured and Consumer divisions performed particularly well, both in terms of originations and new product launches.
"The full roll out of personal lending and savings offerings and a number of further attractive product and market adjacencies will reinforce future growth and we remain confident in our continued ability to deliver our near and medium term targets.”
