Zopa said it onboarded hundreds of thousands of customers to its new customer account proposition since its launch in June last year.
Zopa Bank, the UK savings and lending digital bank, has reported its third consecutive year of profit, as it says take-up of its new current account proposition has eclipsed expectations.
The London-based bank reported pre-tax profits of £44.9m 2025, up from £31.6m in 2024, driven by its borrowing and savings products.
The SoftBank-backed digital bank said more than 85 per cent of its staff were using AI tools in their everyday work, with a growing number of custom-internal GPTs speeding up tasks.
In June last year, Zopa announced the launch of Biscuit, its current account product, looking to take on challenger banks like Revolut and Starling as well as traditional banks like Barclays and HSBC.
Unicorn Zopa, founded in 2004, did not disclose specific customer numbers for the free-to-open current account but said take-up had “exceeded our expectations”.
A Zopa spokesperson said it had onboarded hundreds of thousands of Biscuit customers, and was 40 per cent ahead of plan.
Zopa said its customer numbers grew to 1.7 million in 2025 across savings, lending and everyday banking, onboarding more than half a million gross new customers during the year.
Over the period, the bank’s deposit base grew 17 per cent to £6.4 billion, while gross loans upped 23 per cent to £3.8bn.
But Zopa said it has set aside £7.9m in provision relating to the car finance mis-selling scandal.
Jaidev Janardana, CEO at Zopa Bank said: “2025 was another landmark year for Zopa as we expanded into everyday banking. We grew our customer base to 1.7 million, supported by strong growth across all products and from our expansion into current accounts and Investments.
“Our performance drove 24 per cent revenue growth, with Zopa doubling its profit before tax despite a challenging UK economic environment.
“Unlike much of the industry, we continue to place significant emphasis on rewarding loyalty, and the deepening of customer relationships has been the strongest indicator of our progress towards establishing the Home of Money, a place that makes customers feel at home with their finances.”