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September 27, 2019

Kingdom Bank Announcement

It has been apparent for some time that there is an important and powerful role for a Christian bank in Britain. Many people – and not just Christians – are keen to see their money managed and used well.

Kingdom Bank was set up to meet this need, but it is clear that the current owner, Assemblies of God Property Trust, cannot fulfil this mission on its own.

The growth and development of any bank is determined by the amount of capital it has and Kingdom Bank would benefit from more capital to grow and to fulfil our calling. With this in mind Assemblies of God Property Trust have been seeking a new owner that can help us achieve our vision while also staying true to our mission and values.

We are delighted to announce that our good friends Stewardship together with a number of investors have agreed to purchase the entire share capital from Assemblies of God Property Trust and to make a further investment into the Bank. This acquisition is currently being considered by the financial regulators: the Prudential Regulatory Authority and the Financial Conduct Authority. We very much hope they will approve the transaction. Stewardship has a strong desire that we continue to lend to churches, charities and church workers, from many and varied Christian backgrounds, including the Assemblies of God Fellowship.

We believe that this new development will open up new opportunities for Kingdom Bank, enabling it both to grow and to be a witness to more people. We are delighted that initially there will be no changes and the Bank will continue to operate with the same staff, management team and Board of Directors. Our mission statement will not change, and we have printed this below for ease of reference. We want to be able to look back in the coming years and give thanks to God for the way He has blessed our business, because we have put Him first in all that we do.

Mission Statement

“To glorify the Lord Jesus Christ by providing distinctive savings, loans, insurance and investment products that advance his kingdom, changing lives.”

We do this by offering a range of services for both savers and borrowers, where the relationship is truly personal and caring. By living our values and developing new products and services, we aim to become the bank of choice for Christians in the UK.

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