Leading UK challenger bank, OakNorth, has released its 2018 results showing that profits increased to £33.9 million, a 220% increase from 2017; OakNorth has taken a very different approach to the other UK challenger banks and so far it is paying off handsomely; it is focused on lending to mid-sized businesses in amounts ranging from £500,000 up to £40 million; they have announced that they will donate 1% of future net profit to charitable causes and social entrepreneurship; they have loaned over £3 billion to growth businesses to date. Source.
