Despite the pandemic taking a significant toll on some of its peers, fintech firm OakNorth managed to continue growing its profit margin in 2020.
Earnings at the bank rose 18% last year to £77.6m, while customer deposits jumped to £2.3bn. The unicorn facilitated £1.1bn in loans to small and medium-sized businesses during the period, some of which were supported by the government’s coronavirus business lending schemes.