In just under four years since the former peer-to-peer lender received its banking license, Zopa Bank has amassed £4 billion in customer deposits.
The gains for the bank are in part due to Zopa’s Smart Individual Savings Accounts (ISA) that brought in £1 billion in under a year. The full functionalities of Smart ISA were rolled out in March 2024.
Zopa Bank announced its full year of profitability, with a pre-tax profit of £15.8 million at the end of the 2023 financial year.
The bank, established in 2020, has now reached 1.2 million customers.