OakNorth Bank lends to small and medium-sized businesses (SMEs), and was cashflow break-even within 11 months of receiving its full licence. It has been profitable every year since 2015.

Rishi Khosla wants to encourage young people from disadvantaged backgrounds into the business world.

Rishi Khosla, co-founder and CEO of OakNorth, said: “We sponsored this report because we understand the positive impact that successful growing businesses have on the UK economy. Our lending of approximately £10 billion to date has directly contributed to the creation of over 40,000 new employment opportunities and 29,000 new homes."

Rishi Khosla, CEO and founder of OakNorth, stated that the bank has examined its £5 billion loan book for industries that contribute to pollution, including construction, as well as for less obvious areas such as emissions produced by hospitals and the environmental impact of constructing electric vehicles.