LHV Bank joins PRA and FCA Scale-up Unit to accelerate UK growth

LHV Bank has joined the second cohort of the PRA and FCA’s Scale-up Unit, strengthening its plans to grow its UK banking businesses and support the next generation of financial services innovation.

The Scale-up Unit was launched in October 2025 as part of the Government’s Financial Services Growth and Competitiveness Strategy. It provides high-growth banks and building societies with dedicated regulatory engagement to help them scale sustainably and responsibly.

For LHV Bank, the move marks the next chapter in its UK growth story, building on full UK banking authorisation in 2023 and strong momentum across retail banking, SME lending and Banking Services.

Built to scale. Banking with ambition.

LHV Bank has grown across three complementary businesses: an app-based retail current account bank for savers who take their money seriously; flexible lending for ambitious UK businesses; and Banking Services, providing the accounts, payments infrastructure and technology that fintechs and financial institutions rely on to serve their customers across the UK and Europe.

The bank’s growth is reflected in its 2025 results, with £1.1bn in customer deposits, £0.7bn in lending and £5m profit after tax.

Its Banking Services business also gives LHV Bank a distinctive role in the financial services ecosystem, powering other businesses with the infrastructure they need to innovate, grow and reach more customers. 

Supporting the next stage of growth.

Through the Scale-up Unit, LHV Bank will benefit from a dedicated regulatory contact who understands its business model and growth ambitions. This will support more tailored engagement on product development, regulatory processes and the practical challenges of scaling a modern banking business.

Kris Brewster, Interim Chief Executive Officer of LHV Bank, said:

“We’re ambitious about what LHV Bank can achieve in the UK. Joining the Scale-up Unit is an important step in our growth story and supports our commitment to scaling responsibly, with the right governance, resilience and customer focus.

“Our ambition is simple: to make banking work harder for our customers and partners. That means competitive savings products for people who take their money seriously, lending that helps ambitious businesses grow, and building the payment infrastructure that fintechs and financial institutions across the UK and Europe depend on.

“We’re proud to be building a bank with ambition, and we look forward to working closely with the PRA and FCA as we continue to grow and contribute to the UK’s financial services sector.”

Participation in the Scale-up Unit does not imply endorsement by the FCA or PRA of LHV Bank or its business model.

Further information on the Scale-up Unit is available on the FCA and Bank of England websites.