LHV Bank has seen its loan book increase by over 30% quarter-on-quarter in Q1 2025, reaching £400m.

The bank issued more than £130m in new loans in Q1 2025, which it said was driven by sustained broker demand and growing interest in its commercial and investment finance offering.

LHV also saw its deposits increase to £700m in this period.

The growth follows a £10m capital injection into the bank in March, supporting its plans for further expansion in the UK market.

The firm’s Q1 results come ahead the bank’s retail banking app launch next month, which will provide access to a current account, debit cards and a range of savings products.

Chief executive officer at LHV Bank, Erki Kilu, said: "This has been a strong start to the year, driven by growing demand for the type of straightforward, responsive finance we are offering to UK SMEs and property investors.

"While we are proud to have expanded our loan book and grown our deposit base in a challenging market, what matters most is achieving sustainable profitability. The first quarter results, and the positive momentum we are seeing, reflect the strength of our business model and the clarity of our strategy.

"We are building a bank that puts customers first, balances technology with trust, and supports both businesses and individuals to achieve their financial goals. There is more to come in the months ahead, particularly as we expand our current account and savings offering for consumers."

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