This is an increase from the £900m in deposits recorded at the end of 2020 – a year that saw the specialist lender’s gross new lending rise 40% and total loans and advances equal £828m, a gain of 9%.

Cambridge & Counties Bank was launched in 2012. It is owned jointly by Cambridge University’s Trinity Hall and the Cambridgeshire local government pension fund.

Director of savings and marketing Christian Cowie comments: “While the Bank of England base rate remains at an all-time low, Cambridge & Counties Bank has increased rates on a range of accounts over the past four months.

“We continue to focus on offering competitive rates and differentiating factors such as a rich customer experience and tailored solutions, as the bank looks to meet strong lending demand from our target SME and real estate markets.”