B-North Ltd is the topic of conversation when Hardman & Co Analyst Mark Thomas joins DirectorsTalk. Mark explain why he called his note ‘Bridge over troubled waters’, why the company’s outlook has improved, the equity raise, the key advantages of the B-North model, the risks involved and how the company coped with COVID-19 operationally.
B-North is being developed to serve the huge UK SME lending market. It has state-of-the-art technology, a regional hub model and experienced managers to deliver a best-in-class service to SMEs and commercial brokers. It will be funded through best-buy retail deposit comparison websites. The model should have a material cost advantage over competitors, and credit risk is being tightly managed.
