Vida Bank’s mortgage book has increased to £1.9bn in size, after a “milestone” year of growth according to the bank’s CEO.
In the bank’s financial results, a fourth consecutive year of profitability was achieved in the 12 months to 31st December 2024.
Vida’s operating profit of £3.7m was reached due to net interest income of £32.5m and £369m of new originations, with the latter driving a 9% growth in its mortgage book.
Last year saw the bank scale up, achieving a PRA banking licence to launch new products and grow origination capability with application volumes swelling by 67% to £1.2bn.
Vida was also able to raise £850m through three successful securitisations.
"[Last year] was a milestone year for Vida, marking our transition from a wholesale funded mortgage lender to becoming a fully authorised specialist mortgage bank,” said Anth Mooney, CEO at Vida Bank (pictured above).
“This strategic transformation provides a very stable platform from which to scale sustainably over the coming years, strengthening our competitive position so that we can grow our asset base whilst delivering enhanced value to our shareholders, customers and intermediary partners.”
