LHV Bank’s loan book is primarily made up of commercial real estate, trading business mortgages and specialist BTL, reflecting its focus on supporting business growth and property investment.
In July, deposits from customers rose to £892m, while the loan portfolio grew by £20m.
Net profit for the month stood at £346,000, bringing year-to-date profit to £2.23m.
The bank reported that business volumes through intermediary lending remained stable and in line with its plan, while retail banking development continues, supported by the launch of Apple Pay for customers.
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Erki Kilu, CEO at LHV Bank (pictured above), commented: “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.”
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