The parent company of Vida Bank reported that total mortgage lending more than doubled in the first six months of this year to 348 million pounds.
Vida Group Holdings said its lending business got off to a good start in its first full year as a bank, following regulatory approval in November 2024.
Mortgage lending grew 111% year-on-year in the six months to the end of June.
The bank is able to leverage its “new retail deposit franchise to enhance funding, reduce funding costs and support mortgage originations”, the group said.
In 2025, it took in £1.1bn of retail deposits, taking its total retail deposits to £1.3bn.
The bank added that its retail deposits “change the funding base, reducing wholesale dependence and asset burden”.
The group reported half-year pre-tax profits of £10.7m, up from £1.9m a year ago and up from full-year 2024 profits of £3.6m.
Anth Mooney, CEO of Vida Group Holdings, said: “Vida’s strong first half performance reflects the benefits of our new banking license, a more diversified funding base and continued operating discipline. Retail deposits transformed our balance sheet, significantly reducing our cost of funds and supporting profitable growth in mortgage lending.”
“Mortgage applications have exceeded £2 billion so far this year and with reserves now standing at £600 million, we continue to see strong demand for our mortgage products from both brokers and customers.
“We saw record demand in September and expect a strong finish to the year as momentum continues.”
