UK-based Tandem Bank, a leading challenger bank, has marked its second consecutive year of profitability, thanks to a significant rise in green-savvy customers. The bank’s underlying profitability surged five-fold compared to the previous year, reaching an impressive £17.2 million. This success is largely driven by a 28% increase in net interest income, which now stands at £87.8 million.
Green Focus Drives Success
Tandem Bank has carved out a niche as a green alternative to traditional banks, offering products that help customers transition to a lower carbon lifestyle. From loans and savings to mortgage products, Tandem’s eco-friendly financial solutions are attracting a growing number of environmentally conscious consumers.
Alex Mollart, CEO of Tandem Bank, highlighted the impact of this strategy: “Tandem’s strategy of becoming the UK’s greener, digital bank is working. We’re profitable for a second year running and delivering growth across deposits, lending, and revenue – attracting more green-savvy consumers to the bank.”
Customer Trust and Growth
The bank’s mission to support a lower carbon lifestyle resonates with its customers, who are increasingly trusting Tandem with their savings. Mollart added, “It’s great to see so many customers buying into our mission to help the transition to a lower carbon lifestyle – and save money along the way. We’ve seen big increases in customers trusting their hard-earned savings with Tandem, while helping to fund the green lending we offer to customers looking to switch to a greener lifestyle.”
A Sustainable Financial Future
Tandem’s commitment to sustainability is proving to be a strong business model, driving both profitability and customer growth. By positioning itself as a green bank, Tandem is not only meeting the needs of eco-conscious consumers but also setting a new standard in the banking industry for environmental responsibility.
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