Vida Bank more than doubled new mortgage lending to £1 billion in its first full year as a bank, as stronger demand from brokers and a growing retail savings base helped lift profits.
The specialist lender said its loan book grew by 24% to £2.3 billion, while mortgage applications rose to £2.6 billion over the year.
Vida also attracted more than £2.4 billion in retail deposits from more than 75,000 savers, which it said strengthened its funding base and lowered its overall cost of funds.
Profit before tax increased to £9.4 million from £3.6 million in 2024. Net interest income rose to £45.5 million, while net interest margin improved to 2.29%.
The lender also reported stronger customer and broker feedback, with mortgage customer net promoter score rising to +49 and broker net promoter score reaching +29.
Anth Mooney, chief executive officer at Vida Bank, said: “Becoming a bank has transformed the scale at which we can compete. The specialist mortgage market remains our sole focus, serving customers with complex incomes or circumstances that do not quite fit the traditional high street lending model.
“Over the past year we’ve invested heavily in our decisioning capabilities and service model, combining deeper data insights with experienced underwriting judgment to assess cases more intelligently.
“That combination allows us to grow with confidence; building a highly scalable mortgage origination platform while maintaining the discipline and credit quality that underpins a sustainable specialist bank. Our approach is different to our competitors, but brokers and customers genuinely seem to love it.”
Stuart Sinclair, chair of Vida Bank, said: “Having joined Vida during its first full year as a bank, I’ve been struck by the strength of the business, the clarity of its strategy and the commitment of its people.
“What stands out most is the sense of purpose that runs through the company – helping more people find a place to call home – and the discipline with which the team is building a sustainable specialist bank around that.”
