This growth was recorded over the first six months of the year with STB reporting strong rental demand supporting valuations in its portfolio.

As such, the residential property investment share of its portfolio increased to 90.7% at the end of June.

“Our focus on established client relationships alongside an incredibly proactive origination team, continues to drive profitable growth,” said John Griffin, managing director of real estate finance at STB.

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“Since the division’s origination over a decade ago, we have operated a relationship-led business model, offering specialist lending solutions to meet individual client needs.

“This approach has been crucial in driving continual growth and enabling clients to unlock value and deliver on their business plans.”

STB has attributed some of this growth to an increased use of its broker channels, working more proactively with professional partnerships and intermediaries.

Luke Jooste, managing director of business finance at STB, added: “Our record lending balance in real estate finance reflects both market demand and strategic decisions.

“By expanding our broker channels and refining our credit appetite, we have opened new avenues for growth while maintaining a disciplined approach to risk.”