OakNorth, the leading digital bank for entrepreneurs, by entrepreneurs, has surpassed $1bn of lending in the US since it began lending there in July 2023, marking another major milestone in its US expansion.With a focus on supporting lower mid-market businesses with revenues between $1m and $100m, OakNorth’s backing continues to be a catalyst for growth, innovation, and market leadership for its customers, as well as creating a positive multiplier effect in the communities and economies in which it operates. After the collapse of several U.S. banks in 2023, OakNorth stepped up to serve the $4.2 trillion U.S. lower middle market, with stand-out transactions, including:A $28m note-on-note facility to Oak Funding, to support the acquisition of a Class A commercial office building in Secaucus, New Jersey;A $18.4m note-on-note facility to S3 Capital, to support major new residential scheme in Upper East Side, Manhattan;A $25.1m note-on-note facility to Mavik Capital to finance the conversion of vacant hotel in Syracuse, New York into multifamily propertyA bespoke loan to Faes & Co, to support the expansion of its US real estate bridging finance business.OakNorth also continues to see a significant opportunity in providing leading growth companies with the financial firepower to make their American dream a reality. For example, F1 Arcade, the world’s first F1® experiential hospitality brand, with sites in London and Birmingham, secured OakNorth funding to support its U.S. expansion

OakNorth – the leading digital bank for entrepreneurs, by entrepreneurs – today publishes its latest Annual Report, revealing pre-tax profits of £214.8m ($271.6m) in 2024 (FY23 £187.3m / $236.8m)[1]. OakNorth provided over £2.1bn ($2.6bn) of gross new lending in 2024, continuing its track-record of supporting ambitious and innovative businesses across the UK and the US. To date, OakNorth’s total cumulative credit facilities have grown to £12.5bn ($15.7bn) – up from £10.2bn ($12.9bn) at the end of 2023, with an adj. return on equity (ROE)[2] of 22%. OakNorth is also ranked amongst the top 1% of banks globally in terms of return on assets (ROA)[3].OakNorth’s backing continues to be a catalyst for growth, innovation, and market leadership for its lower mid-market customers, as well as creating a positive multiplier effect in the communities and economies in which it operates. Since its launch in September 2015, its loans have directly supported the creation of over 56,000 jobs and over 34,000 new homes, the majority of which are affordable housing[4]