British AgTech bank Oxbury has announced a pre-tax profit of £3 million and is on track to achieve £1 billion in lending in the near future.
Since its inception in 2021, Oxbury has quickly established a strong presence within the UK’s £21 billion agriculture finance sector. The bank has seen a remarkable increase in its customer base, with the number of credit customers doubling to 3,000 and a 240% rise in customer deposits, which now total £1.06 billion.
In addition to its lending services, Oxbury has introduced a proprietary core banking platform, Oxbury Earth, which seamlessly integrates its farm credit product with the systems of clients and agricultural distributors.
Oxbury is also pursuing an international expansion strategy, exploring opportunities to implement its model in other agricultural markets, including the United States. The bank is currently in talks with various companies interested in utilizing its technology beyond the UK.
CEO James Farrar stated, “There is a significant demand in the agriculture sector for Oxbury’s offering—customer-centric, technology-driven financing with superior products. Our team of experienced relationship managers is dedicated to helping farmers navigate current challenges such as productivity pressures, land changes, and the transition to net-zero emissions.
“We take immense pride in Oxbury’s achievements in such a brief period. In just three years, we have established a profitable and growing business built upon our Oxbury Earth Tech platform, demonstrating how Oxbury can serve as a positive force in agriculture, not only in the UK but potentially internationally as well.”
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