LHV Bank has announced that its UK lending portfolio now totals £140 million.
At the end of 2023, the Bank’s loan book was worth £69 million, meaning the SME lender has doubled the size of its portfolio in just over six months.
LHV Bank secured its banking licence from the Prudential Regulation Authority in May 2023 and reported a profit after tax of £6.4 million in its first year of operation.
It provides personal savings accounts and lending to SMEs. It specialises in three main lending areas: specialist buy-to-let, commercial real estate investment, and owner-occupier commercial mortgages, providing loans from £500,000 to £10m and above.
Erki Kilu, Chief Executive Officer at LHV Bank, commented: “We launched into the UK market last year with a cutting-edge lending platform, designed to support our strategy to offer bespoke products to SMEs, while simultaneously providing excellent customer service. Our significant loan book growth is testament to the excellence of our people, platform and processes.
“Over recent months we have expanded our London team of lending professionals in order to further develop broker relationships, allow rapid decision-making and handle the complex lending requirements of our clients. Our next target is £200 million in lending and with our current run-rate we look set to achieve this by the end of the year.”
