The Company had invested Rs 663 crore in November 2015 for a 40% stake in the bank. Within two years of this, in November 2017, the Company recouped its investment by selling ~10% of the bank to Government of Singapore owned investment arm GIC for Rs 770 crore.
Founded in 2015 to address the mid-market funding gap in the UK, a highly competitive and regulated market, OakNorth Bank became profitable in just 11 months, and within four years of operations has grown its deposits to just under £ 3 billion and its loan book to over £ 4 billion.
