Shawbrook retains full-year outlook as grows loan book and deposits

Shawbrook Group PLC on Thursday said its first quarter performance was ‘strong’ and asset quality ‘robust’ as it reported growth in its loan book and higher deposits.

The Essex, England-based digital banking platform said its loan book increased 2.6% to £19.7 billion in the three months to March from £19.2 billion the year prior, as deposits grew 1.9% to £18.7 billion from £18.4 billion.

The CET1 ratio rose to 12.6% from 12.4%, with a total capital ratio of 14.9%, up from 14.8%.

Chief Executive Marcelino Castrillo said financial performance was ‘strong’ in the quarter, while asset quality remained ‘robust’.

Three-month-plus arrears were 1.7% compared to 1.6% a year ago, ‘within management expectations’.

‘We see attractive opportunities for growth within the specialist markets we serve, underpinned by a [total addressable market] of [around] £300 billion, CEO Castrillo added.

For 2026, Shawbrook forecast a loan book of around £21 billion, cost to income ratio of below 38%, a CET1 ratio - pre-Basel 3.1 - of greater than 13.2% and an underlying return on tangible equity of around 17%.

In addition, Shawbrook reiterated medium-term guidance for loan book growth of low double digits; cost to income ratio of mid 30s; underlying pretax profit growth of mid-high teens; underlying return on tangible equity of high-teens; a maiden ordinary dividend in respect of FY26 results and a CET1 ratio of 12% to 13%.

Shawbrook traded 0.5% higher at 310.50 pence each in London on Thursday.

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