LHV Bank added that total assets reached more than £1bn in July. This was part of its goals set out by Conor McDermott, director of SME lending at LHV Bank, in our One to One series.
The firm said it showed a “consistent performance” across its lending portfolio, which shows its “growing role in supporting UK businesses, brokers and property investors”.
The loan book is made up of commercial real estate, trading business mortgages and specialist buy-to-let (BTL) business.
Deposits from customers increased to £892m, while its loan portfolio rose by £20m.
The net profit for the month came to £346,000, bringing year-to-date profit to £2.23m.
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Business volumes through intermediary lending stayed stable and in line with its business plan.
Retail banking development continues, supported by the launch of Apple Pay for customers.
Erki Kilu, CEO of LHV Bank, said: “Crossing the £500m milestone in our active loan book and reaching over £1bn in assets marks an important step forward for LHV Bank in the UK. It demonstrates the strength of our lending model and the trust placed in us by both brokers and customers.
“What makes this particularly encouraging is that growth has been achieved while maintaining strong profitability and a stable funding base. We have issued over £550m in loans to date, supporting businesses and investors across the UK, and we see continued demand for financing solutions that are fast, transparent, and sustainable.
“As we build on this momentum, our focus remains on serving the broker community, supporting SMEs, and expanding our product set to meet the needs of both business and retail customers.”
