RE: Potential Values6 Mar 2026 12:30
Thanks Dudemug
About Oaknorth
Joel and Rishi were inspired to start Oaknorth after coming up against challenges in gaining debt finance for that business from high street banks.
Oaknorth was only the third new retail bank to be licensed in the UK in 150 years, and the first new bank to turn a profit inside a year, reporting a £10.6 million pre-tax profit in 2017.
Oaknorth lends between £500,000 and £40 million to businesses and property developers as well as property development finance, investment loans and savings accounts for businesses and individuals. In 2016 it became the first UK bank to have its core system hosted entirely on the cloud after partnering with Amazon Web Services.
To date, Oaknorth has supported the development of 8500 homes. It has offices in London, Manchester and New Delhi.
Net profit in their first year.