According to LHV Bank’s latest financial report, the lender recorded around £1.1bn in deposits and £700m in loans, rises of 99% and 136% respectively.
The firm said it recorded “strong growth” in SME lending, as it had targeted “profitable, owner-managed UK businesses” that tend to be under-served by high street banks.
On the deposit side, it said the growth was supported by a “simple proposition built around fair value and clear rates”.
Erki Kilu, CEO of LHV Bank, said: “Crossing £1bn in UK deposits is an important marker of trust. Customers are choosing LHV Bank because we are clear on what we offer and consistent in how we deliver it. At the same time, we are growing our lending in a way that makes sense, backing businesses with strong fundamentals and a clear sense of direction.
“Looking ahead to 2026, we expect deposits and loans to grow by around 50%, alongside increases in profit after tax and return on equity, as we continue to improve our products.”
He added: “We’re strengthening our retail offering and app, expanding our savings product range, launching our first retail credit products and introducing additional currencies alongside the pound sterling for both retail and banking services clients.
“By keeping our team size stable and improving efficiency through modern technologies, we can reinvest in simpler, more useful banking that delivers quality products for customers and sustainable growth for the business.”
In November, the firm appointed Callum Livingstone as its lending director.
