Firm achieves high originations and grows assets under management
Enra Specialist Finance, the parent company of specialist lender West One Loans and specialist finance broker Aria Finance, reported robust trading outcomes for 2023 despite challenges posed by elevated interest rates impacting the market.
The Watford-based firm posted record originations, reaching approximately £2 billion last year. The company saw a significant 20% growth in assets under management, culminating in £2.1 billion by the close of the year.
West One Loans experienced record months of origination across diverse sectors including bridging, development finance, buy-to-let, and its newly introduced range of residential mortgages throughout 2023. The same period marked a historic year for West One’s short-term lending divisions, particularly in bridging and development finance.
Meanwhile, Aria Finance also delivered a strong performance in 2023. A year after the merger of Enra’s broking brands, Enterprise Finance and Vantage Finance, the consolidated entity, now led by managing director Lucy Waters, continues its expansion trajectory through strategic hires.
“2023 has been very successful for our firm,” Emily Gestetner (pictured), chief financial officer at Enra Specialist Finance, stated. “Despite a backdrop of rising interest rates and ensuing market volatility, the Enra team has delivered a phenomenal set of results.
“Our audited results will be published in early Q2, but I fully expect to deliver another Enra record performance, exceeding the previous year’s EBITDA of £39 million. All our lending lines are up year on year, with a particularly impressive performance from our short-term lending divisions and record levels of profit from our buy-to-let business. Our loan book continues to grow, and credit quality remains outstanding against a backdrop of a generational shift in the cost-of-living.”
Gestetner added that Enra is well-positioned for further growth in 2024 with a strong balance sheet, excellent cash-generation capability, and plenty of funding to fuel further lending.
“While the future is always unpredictable, I’m very confident in the Enra team’s ability to remain focused, flexible, and determined to manufacture success in any situation,” she said.
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