Shawbrook has a high-growth and high-return strategy, with the goal of achieving £30bn in its loan book by 2030. Credit: Shawbrook.
UK-based digital banking firm Shawbrook Group revealed today (6 October) that it was considering to float on the London Stock Exchange.
The group said that an IPO, if completed, would "position [the bank] well for the next stage of its evolution, supporting its ambitious growth plans".
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Shawbrook has a high-growth and high-return strategy, with the goal of achieving £30bn in its loan book by 2030, named the ‘30 by 30 Target'.
Between 31 December 2013 and 30 June 2025, the group enlarged its loan book from £1.4bn to £17bn.
The listing is also expected to bolster Shawbrook's profile and brand recognition, while providing another source of capital.
A Shawbrook IPO has been touted since July of this year, when the firm stated it was expecting a valuation of £2bn.
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Marcelino Castrillo, chief executive of Shawbrook, said the firm is as "excited as [it has] ever been".
"We have achieved real scale, and our current markets are large and growing, supported by attractive tailwinds. We also see a significant opportunity to bring Shawbrook's offering to new types of customers," the CEO explained.
He added: "An IPO would mark an important milestone in our journey."
Shawbrook Group intends to publish a registration document for London's main market today once approved by the Financial Conduct Authority.
The London Stock Exchange has received welcome news in the past week with Texas-based company Fermi completing its listing (2 October) and food brand Princes Group confirming its intention to float as well.
