Challenger lender Metro Bank grew its loan book by 69 per cent in the year to 31 March.
The company said this growth was a result of both winning new business, and its acquisition of a book of mature mortgage loans.
Deposit growth for the bank was 41 per cent higher taking the total deposit base to £12.7bn.
The company said there were 88,000 new accounts opened during the year.
The company added £6.3m a month of new deposits for each branch it operates.
The loan to deposit ratio was 86 per cent.
The company reported a profit for the year of £10m for the quarter to the end of March.
Craig Donaldson, chief executive of Metro Bank, said: "Momentum in our growth continues. In the first quarter, we've seen a 69 per cent growth in lending and 41 per cent growth in deposits year-on-year and welcomed tens of thousands of new customer accounts.
"We will continue to find new ways to make our customers' lives easier. Over the course of the year we will invest significantly in our digital offering to combine the best of fintech with our fanatical focus on service.
"Our artificial intelligence ‘Insights’ tool will be launched this summer on our already award-winning mobile app. We're extending the store footprint into thriving towns and cities in the West and Midlands while strengthening our presence on the South coast, with five stores already in build.”
Metro Bank’s announcement came as Lloyds Banking Group reported a doubling of its bad loans to £258m in the first three months of the year, compared with £127m for the previous quarter.
david.thorpe@ft.com
