Stewardship announces acquisition of Kingdom Bank

Christian charity Stewardship and Kingdom Bank have announced that, subject to approval from financial regulators PRA and FCA, Stewardship, together with a group of Christian philanthropists, is to acquire Kingdom Bank from its current owner, Assemblies of God Property Trust (AOGPT). It is hoped that this change of ownership will facilitate greater Church growth and Christian ministry through the services provided by Kingdom Bank, by giving christians, churches and charities access to a wider range of financial services and products across the two organisations.   https://twitter.com/stewardshipnews/status/1178935157467865088 Stewardship was founded in 1906, and is dedicated to promoting Christian generosity. In addition to working with over 30,000 Christians, who through Stewardship give over £80 million each year, the charity also provides services to churches and charities to enhance their financial management and governance. Under the deal, Kingdom Bank will be managed and operated by the Bank’s board and management, who will continue in place. In recent years it has built on AOGPT’s mission to help newly formed church congregations and is now working across denominations and financing over £40m of projects that support growing churches. It is an explicitly Christian bank seeking to offer ethical banking governed by the Christian faith. Stewardship’s Chair of Trustees, Simon Blake said: “We are delighted at the opportunity to acquire Kingdom Bank with a committed group of evangelical Christian philanthropists who have agreed to invest alongside us. This partnership will give us additional firepower to invest in the Bank and strengthen its capabilities, while retaining and enhancing its distinctive Christian character. We will start by investing in the Bank's digital capabilities to enable greater accessibility for account opening and management.”    

from UK Fundraising https://ift.tt/31rSsK0