The Sharia bank’s rapid growth has led to the expansion as it looks to cater for its growing headcount.
After a thorough review, the bank has purchased offices in Calthorpe Road and will move 100 of its employees from its current leased offices later this month.
Sultan Choudhury, CEO of Al Rayan Bank, said: "Al Rayan Bank is beginning the next chapter in its history, and Birmingham remains the perfect location for our operational headquarters.
"Birmingham is a growing city, with first-class modern infrastructure and excellent transport links. And with over 20,000 people employed in financial services, the city has a talented workforce able to support the future growth of the bank."
Al Rayan Bank has had a remarkable two years. In February 2014 it was acquired by Masraf Al Rayan, the second largest Islamic bank in Qatar by market value. A successful rebrand followed before the bank posted its most impressive financial performance to date.
In 2014, the bank’s operating income increased by 168%, customer financing increased by 86% and retail deposits increased by 59%. The bank also transformed a £5.5m loss in 2013 to an after tax profit of £1.2m.
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