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Gatehouse Bank PLC
Company typePublic limited company
IndustryInvestment Banking, Financial services
Founded2007 (London)
Headquarters
London
,
London, United Kingdom
Area served
Worldwide
Key people
Fahed Boodai (Chairman), Charles Haresnape (CEO)
ProductsFinance, investment banking, wealth management, real estate, Shariah advisory
Total assets£1.2bn
Number of employees
201
Websitewww.gatehousebank.com

Gatehouse Bank PLC (بوابة البيت) is a UK regulated Islamic bank headquartered in London, with additional offices in Milton Keynes and Wilmslow.[1]

Gatehouse Bank was founded in 2007[2] and is a Shariah-compliant challenger bank which is a subsidiary of Gatehouse Financial Group Limited.[3] It is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority (FCA).[2] The Bank operates in accordance with Shariah principles, offering savings products[4] and finance for UK commercial and residential real estate.[5] Through its subsidiary, Gatehouse Investment Management, it also sources and advises on UK real estate investments[6] with a focus on Build to Rent and the private rented sector.

Gatehouse Bank’s business and operations are conducted in accordance with the Shariah principles of transparent, fair, and socially responsible banking. This includes operating in a way which shares risk and reward equitably. No funds are invested in non-Shariah compliant industries such as arms, alcohol, tobacco, and adult entertainment.[7] In 2019, Gatehouse Bank joined 129 founding members from around the world in becoming a founding signatory to the UN Principles for Responsible Banking.[8]

Gatehouse has been in[9] the UK private rented sector (PRS) since 2014 with the aim to address[10] the nation’s housing shortage. In December 2015, Lord O'Neill, Commercial Secretary to the Treasury and the Regeneration Investment Organisation (RIO), which is part of UK Trade & Investment (UKTI), singled out Gatehouse's PRS programme as a model for how foreign investment can help alleviate the UK's housing crisis.[11]

Leadership  

Fahed Boodai – Chairman[12]

Gerald Gregory – Deputy Chairman[12]

Abdulaziz Saud AlBader – Vice Chairman[12]

Lesley Beecher – Non-Executive Board Member[12]

Charles Haresnape – Chief Executive Officer[12]

Danesh Mahadeva – Chief Financial Officer[12]

Dr Usman Chaudry – Chief Risk Officer[12]

Paul Stockwell – Chief Commercial Officer[12]

Tim Blease – Chief Information & Transformation Officer[12]

Tracey Bailey – Chief Operating Officer[12]

Andy Homer – Chief Customer Officer[12]

Mohaimin Chowdhury – Chief Legal Officer[12]

Joanna Collings – Chief People Officer[12]

Products and Services  

Gatehouse Bank provides a range of property finance across England and Wales for UK residents, expats and international residents.[13] The Bank’s home purchase plans[14] offer a Shariah-compliant alternative to traditional mortgages. It also offers Buy-to-Let purchase[15] plans, as a Shariah-compliant alternative for landlords. Over the last few years, the Bank has also established itself in the Build-to-Rent sector, with its subsidiary, Gatehouse Investment Management, launched in 2023.[16] As of March 2023, Gatehouse Bank has a 100% holding in property management provider, Ascend Estates Limited.[17]

In 2022, the Bank launched a mobile savings app available on iOS and Android.[18] The app allows existing customers to view their account details and balance, recent transactions, and withdraw or transfer funds between Gatehouse Bank savings accounts.[18]

Recent Growth

In 2021, Gatehouse Bank launched a series of higher finance to value products to assist UK first-time buyers or homebuyers with smaller deposits.[19] Gatehouse’s home finance offering saw a 40% portfolio growth to £762m.[20]

In 2022, the Bank announced that it had surpassed £1bn in financed assets.[21]

In June 2023, Gatehouse Bank announced that it had surpassed £8mn in post-tax profits for the previous financial year.[22] This milestone followed record levels of growth with a 30% rise in total asset value, now totalling £1.3bn (2021: 1.03bn).[23]

References:

References

[edit]
  1. ^ "Get in touch | Contact Us". Gatehouse Bank plc. Retrieved 2023-12-05.
  2. ^ a b "FAQs | Gatehouse Bank". Gatehouse Bank plc. Retrieved 2023-12-05.
  3. ^ "HOME". gatehouse-group. Retrieved 2023-12-05.
  4. ^ "UK Ethical savings accounts at competitive rates". Gatehouse Bank plc. Retrieved 2023-12-05.
  5. ^ "Gatehouse Bank launches Commercial Property Finance". Gatehouse Bank plc. 2018-11-22. Retrieved 2023-12-05.
  6. ^ "Welcome". Gatehouse Investment Management. Retrieved 2023-12-05.
  7. ^ Solutions, Mortgage (2023-08-14). "HPP, ESG and SDG: Getting to grips with Shariah-compliant finance – Clayton". Mortgage Solutions. Retrieved 2023-12-05.
  8. ^ "Signatories". Retrieved 2023-12-05.
  9. ^ "PRS/Build to rent". Gatehouse Bank plc. Retrieved 2023-12-05.
  10. ^ "Gatehouse Bank and Sigma Capital commence construction of largest…". Gatehouse Bank plc. 2014-11-26. Retrieved 2023-12-05.
  11. ^ Media, Insider (2015-12-09). "Sigma launches £114m second phase of PRS project". Insider Media Ltd. Retrieved 2023-12-05.
  12. ^ a b c d e f g h i j k l m "Our Board of Directors | About Gatehouse". Gatehouse Bank plc. Retrieved 2023-12-05.
  13. ^ "UK Ethical Banking, Savings & Finance". Gatehouse Bank plc. Retrieved 2023-12-05.
  14. ^ "Islamic Mortgage Alternative - buy a home". Gatehouse Bank plc. Retrieved 2023-12-05.
  15. ^ "Buy-to-Let mortgage alternatives". Gatehouse Bank plc. Retrieved 2023-12-05.
  16. ^ Patel, Bea (2023-06-20). "Gatehouse IM completes refinancing deal with LGIM". BTR News. Retrieved 2023-12-05.
  17. ^ "About Ascend properties". Ascend Properties. Retrieved 2023-12-05.
  18. ^ a b "Gatehouse Bank introduces new Savings App". Gatehouse Bank plc. 2022-06-29. Retrieved 2023-12-05.
  19. ^ Tuahene, Shekina (2022-08-09). "Gatehouse Bank's home finance portfolio surges 40 per cent to £762m". Mortgage Solutions. Retrieved 2023-12-05.
  20. ^ Hay, Bryan (2022-08-09). "Gatehouse Bank achieves 40% home finance portfolio growth fuelled by record originations". The Intermediary - Latest UK mortgage news. Retrieved 2023-12-05.
  21. ^ "Gatehouse Bank exceeds £1bn in financed assets". bridgingandcommercial.co.uk. Retrieved 2023-12-05.
  22. ^ "Gatehouse Bank surpasses £1 Billion in financed assets". Gatehouse Bank plc. 2022-09-05. Retrieved 2023-12-05.
  23. ^ "Gatehouse Bank reports strong growth and robust financial performance". Gatehouse Bank plc. 2023-06-19. Retrieved 2023-12-05.
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