A Letchworth-based bank has won its sixth consecutive Business Moneyfacts trophy.

Redwood Bank clinched the award for Best Business Variable Rate Deposit Account Provider at a London ceremony.

After being established in 2017, the specialist business bank has won the title every year since 2019.

Stuart Davidson, director of products and strategy at Redwood Bank, said: “Backing British businesses is what we’re all about, and our team works so hard to support them.

The Comet: Redwood's representatives at the Business Moneyfacts Awards 2024 with Claudia Winkleman (right)

"So many of our customers are the small and medium-sized businesses upon which the UK economy is built.

“Winning this award for six straight years is a remarkable achievement, and it means so much for our colleagues to be recognised like this at such a special occasion."

The bank was also shortlisted for two other awards - the Best Business Fixed Account Provider, which it won in 2020, and Best Service from a Commercial Mortgage Provider.