UK-based LHV Bank has increased its share capital by GBP 21 million in a bid to support its growth endeavours. This increase follows a recent infusion of capital from its sole shareholder, LHV Group, bringing LHV Bank's total share capital to GBP 75 million.

Over the past year, LHV Bank transitioned its Banking Services business from its UK branch to the licensed bank. Consequently, the capital requirements also shifted to the bank. As both its Banking Services and SME Lending operations experience rapid growth in business volumes, the already profitable bank finds the necessity for additional capital to maintain a high level of capital adequacy.

In the official press release, representatives from LHV Bank stated that the supplementary capital from their sole shareholder will instil continued confidence in lending brokers, emphasizing the bank's reliability as a long-term partner. Additionally, this capital infusion will facilitate the enhancement of the retail bank offering slated for launch later this year. LHV Group, listed on the Nasdaq Baltic, stands as the largest domestic financial group in Estonia.

Its robust financial position is evidenced by a net profit of GBP 120 million and a net return on equity (ROE) of 29% in the previous year according to the official press release. More information about LHV Bank LHV Bank, fully licenced in the UK, specialises in providing Banking Services for global fintechs, SME Lending solutions for UK businesses, and Personal Savings through partnerships with deposit aggregators. Serving as a prominent Banking Services provider, LHV Bank caters to over 200 distinguished fintech companies, serving more than 10 million end customers and accessing a potential customer base of 500 million across the UK and Europe.

The SME Lending division extends commercial real estate investment loans and trading loans ranging from GBP 0.5 million to small and medium-sized businesses in the UK. .