OakNorth Doubles Profits as Growth Halves

UK based online SMB lender OakNorth said they nearly doubled profits to £65.9mn in 2019; the news was dampened a bit by their growth numbers slowing to 42 percent from 150 percent in 2018; the company said they faced many headwinds with Brexit, the UK general election and flooding across Northern England; “While I am humbled to see what we have accomplished in our first four years, this is only the beginning. I am excited to demonstrate the power of our Platform and continue to work with our partner banks around the world to enable businesses and economies to thrive,” said CEO and Co-Founder Rishi Khosla to AltFi; the company also announced they were the first bank to reach net carbon zero for direct emissions and IT infrastructure. Altfi

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