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Shawbrook Group plc - Completion of Acquisition - JBR Auto Holdings Limited

Further to the announcement on 17 June 2024, Shawbrook Group plc (the 'Group') is pleased to confirm that all the necessary regulatory approvals have now been received and the acquisition of  JBR Auto Holdings Limited ('JBR'), a UK specialist motor finance lender focused on high-end vehicles, has completed.

Marcelino Castrillo, Chief Executive Officer at Shawbrook commented:

"This strategic acquisition will enable our expansion into the high-end motor finance sector. We look forward to integrating JBR's expertise with our own, enhancing our ability to support more customers who value a premium experience, flexibility, and certainty when securing finance for their high-end vehicles."

Darren Selig, Founder and Chief Commercial Officer at JBR, said:

"Today is a pivotal milestone in our journey as we join forces with Shawbrook. Combining our expertise with their established platform and extensive resources, will enable us to deliver an even stronger, more comprehensive offering to a growing number of customers within the specialist segment of the motor finance market."

About Shawbrook

Shawbrook provides finance to a wide range of customers who value the premium experience, flexibility and certainty we deliver. We are a purpose-led organisation, with a focus on delivering long-term sustainable value for all our stakeholders.

We have a diversified offering, with our innovative lending propositions tailored to meet specific customer needs in carefully selected markets across SME, Real Estate and Personal. Our innovative and specialist lending products range from complex structured credit facilities for growth-focused businesses to mortgages for professional landlords and property investors, as well as simple loans for consumers delivered digitally. We fuel our lending through customer deposits, which we attract by delivering a premium experience, choice and consistently great value to smart savers.

The business model we have created is unique and difficult to replicate, with our 'best of both' approach combining deep human expertise with advanced digital, tech and data capabilities. This combination not only allows us to deliver excellent customer experiences, but to do so efficiently and at scale. We are proud of our innovative and agile culture, which drives consistently high employee engagement scores and makes Shawbrook an attractive destination for the best talent.

The Group's lending activities are primarily funded by a stable retail deposit book consisting of easy access and ISA accounts, variable rate notice accounts and fixed rate fixed term accounts (mostly one - five years).

Shawbrook Bank Limited is an operating entity of Shawbrook Group plc. Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is a member of the Financial Services Compensation Scheme.