North East challenger bank Atom says it still intends to forge ahead with flotation plans - but only when the time is right.
The Durham organisation - the UK’s first digital only app based bank - last week published strong results for the year ended March 1 2022, with income growing by over 200% in the year, driven by increases in its business and residential lending, as well as success with its Instant Access Saver. All told its loan book rose to £3.3bn.
The BBVA and Toscafund-backed business, based in Aykley Heads, has been eyeing flotation for some time, and had tabled a potential IPO for next year. Now, however, the business says that while it’s intent hasn’t altered, its timetable may have to.
