#SME / Starling Bank eyes acquisition to grow SME lending

Starling Bank will “probably” acquire a lending platform within the next year or two, its chief executive has revealed, as the challenger bank seeks to grow its small- and medium-sized enterprise (SME) loan originations.

… chief executive Anne Boden said that Starling Bank is rapidly expanding the SME side of its business and SME loans now make up the largest segment of its overall book.

“We’ve grown very fast,” she said. “And despite the fact that we’re growing our own originations, we’re always going to look out for something to acquire and we will probably acquire something in the next year or two.”

She also pointed out that Starling has approximately £3.6bn of deposit funding at the moment, thanks to this growing customer base.

https://www.p2pfinancenews.co.uk/2020/11/03/starling-bank-eyes-acquisition-to-grow-sme-lending/