UK-based Cynergy Bank secures a £20 million Tier 2 capital facility from British Business Investments to accelerate its growth plans.
Facts
- Cynergy Bank has secured a £20 million Tier 2 capital facility from British Business Investments.
- British Business Investments is a subsidiary of British Business Bank, aiming to boost small business financing through challenger banks and non-bank lenders.
- Cynergy Bank was established in December 2018 after acquiring the UK branch of the Bank of Cyprus for £103 million.
- The FCA-regulated Cynergy Bank serves business owners, property entrepreneurs, and family businesses, with over £3 billion in loans provided to UK businesses.
- With the funding, Cynergy Bank plans to facilitate over £250 million in new-to-bank lending for SMEs and property sectors, aiming to become a leading “human digital” bank in the UK.
