The full-year results – which showed a 34% increase in pre-tax profits to £43.7m and customer deposits up 29% to £5.7bn – marked the bank’s “strongest year yet”, said chief executive Richard Davies.
Customers using Allica Bank’s business reward account were up 133% to over 14,000, while gross revenue increased by 27% to £371.3m.
The digital bank also invested £30m in new products and technology and said that following the completion of its recent $155m Series D fund raise, it was on track for 10% UK market penetration by 2028 and was considering international expansion.
Davies said: “2025 was our strongest year yet.
“But the more significant story is what’s happening beneath the numbers. Because we’ve been building Allica from the ground up on powerful, proprietary technology with modern clean data, architecture and a unified software stack we’re entering this new era of agentic AI with a structural advantage that legacy banks and others relying on third-party systems simply cannot close.
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“Our engineering teams are now developing and deploying AI agents and tools across the full technology stack, and we’re developing what we believe will be a global first for complex SME lending using AI agents built on our own proprietary data.”
“Allica is building the category defining digital bank for established SMEs – a segment who make up a third of the economy but are drastically under-served. With our tech advantage now being amplified by the power of AI, the opportunity for us to transform the established SME banking market in in the UK and overseas is bigger than ever.”
