Recognise Bank returns to profit after transformation

By Milan Rojan

Recognise Bank has reported a return to profitability, posting a post-tax profit of approximately $12.0 million for the year ended 31 March 2026, compared with a $7.1 million loss in the previous year.

The SME property lending bank has grown its loan book by 51.1% to approximately $623 million, while deposits have increased 18.8% to around $776 million. Since the year end, lending has continued to expand, with the loan book exceeding $675 million and deposits surpassing $810 million.

The results have followed a new strategic direction introduced in May 2025. Recognise Bank has reached monthly profitability in May 2025, four months ahead of its original target, as it has focused on stabilising operations and establishing the foundations for further growth.

As part of the transformation, the bank has streamlined its organisational structure, relocated its London head office and opened a new Operations Centre in Milton Keynes. These changes have been aimed at simplifying operations and supporting customer service as the business has expanded.

Recognise Bank has also started refreshing its technology platforms, with new solutions being introduced to improve customer service and increase internal efficiency. The technology investment has formed part of the bank’s wider operational transformation.

On 31 March 2026, the bank has received a further $6.7 million capital injection from its largest shareholder, Parasol V27 Limited. The funding has represented the second tranche of investment and has supported the continued implementation of its strategy.

Steve Pateman, Chairman of Recognise Bank, has said the business has established the foundations for sustainable profitability. Chief Executive Officer Simon Bateman has also highlighted the progress made through restructuring and operational changes.

Recognise Bank has continued expanding its intermediary offering, providing relationship-led lending solutions for brokers and customers across commercial property transactions.