# Charity Bank aims for major growth

- Link: https://fundraising.co.uk/2007/05/15/charity-bank-aims-major-growth/
- Published: 2007-05-15T23:00:00+01:00
- Author: Howard Lake

Charity Bank, the only not-for-profit bank in the UK, is intending to more than 
double in size in the next five years.
It is undertaking a major capital initiatives
so that it can deliver a sustainable fundraising regime for social enterprises and
voluntary organisations.

At the organisation’s AGM chief executive Malcolm Hayday said the bank had achieved
overall growth rate of just under five per cent durign 2006 and increased net lending
by 50 per cent to £16.4m.

An increase in loan enquiries of more than £100m showed that borrowing is clearly
becoming a mainstream source of finance for many charities and social enterprises,
said Hayday. This reflects a broader change in the way that they manage their finances
and underlines why we need to expand to meet this need.

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As well as the expansion plans, the bank is to undergo a structural reorganisation
which will involve the development of a more widespread regional network to creater
closer on-the-ground working relationships with loan applicants, investors, depositors
and other stakeholders.

It has also undertaken a wide consultation process with its stakeholders prior to
implementing a system of measuring the social outcomes and impact of its activities.
It is now developing a values statement that will form the basis of the social reporting
system and will announce further details next year.

So far the bank has agreed loans totalling more than £55m for more than 500 charitable
organisatiosn.

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