A Christian bank which helps believers steward their resources has been named as one of the UK’s 500 fastest growing companies.
Kingdom Bank has been ranked at number 380 on the Business Leader’s Top 500 Growth Companies list.
The bank said that achievement reflects a period of strong growth for the bank and the ‘increasing and urgent demand from churches across the UK who are seeking to secure permanent accommodation for Gospel ministry.’
Chief Executive Officer Paul Houghton said: “We’re delighted to be ranked in the UK Top 500 Growth Companies.”
“TESTIMONY TO THE LORD’S PROVISION”
“It is testimony to the Lord’s provision and to the faithfulness of Christians who have chosen to save with us.”
“Their savings enable us to provide mortgages to evangelical churches across the UK, helping them establish a secure base for mission and ministry in their communities.”
Kingdom Bank was also ranked at number 302 for profit, and number 193 for profit margin.
Mr Houghton reflected: “It’s very important to the Bank’s mission that we generate profits.”
“All surplus generated during this period is invested into Kingdom Bank’s capital reserves, enabling us to increase our lending capacity to churches, Christian charities and ministry workers.”
FUTURE GROWTH DEPENDS ON CHRISTIAN INVESTMENT
Premier Christian News reports that looking ahead, Kingdom Bank emphasises that future growth depends on more Christians choosing to place their medium- and long-term savings with the bank.
It adds that: “With interest rates expected to flatten, the Bank’s ability to meet growing demand from churches will be directly linked to the inflow of deposits from individual savers, churches and charities, as well as businesses who share its vision.”
Paul Houghton concluded: “Our mission is simple: to see more churches secure a permanent home in their communities with the buildings they need to serve and proclaim the gospel.”
“Every pound saved with Kingdom Bank helps make that possible.”
HISTORY OF KINGDOM BANK
The bank dates back to the early 1950s when Assemblies of God pastor George Oldershaw set up the AOG Property Trust because High Street banks were reticent to lend money to new churches wanting to buy their own premises.
The Trust steadily grew in both clientele and reputation and became the Kingdom Bank in 2005.
In 2019, it was bought by Christian charity Stewardship and a consortium of unnamed Christian philanthropists for 7 million pounds (A$14 million in today’s money).
Stewardship is funded by more than 30,000 evangelical Christians.
The new owners committed to helping churches, Christian charities and Christian workers thrive, as well as support sustained growth for the Kingdom Bank.
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