Zopa, the UK digital bank that evolved from a peer-to-peer lending platform, has announced it has surpassed £5 billion in customer deposits, a threefold increase from the £1.7 billion it held just 18 months ago. The rapid growth has been fuelled by consistently competitive savings rates, with the bank currently offering 4.85 per cent on its one-year fixed-term account and 4.15 per cent on its easy-access Smart Saver. Zopa now serves over 1.2 million customers, with deposits placing it among the top 10 digital banks in the UK by volume.

Chief executive Jaidev Janardana attributed the growth to a deliberate strategy of prioritising savings and credit products over current accounts, allowing Zopa to build a stable funding base for its lending operations. "We do not try to be everything to everyone," Janardana told FinBlockDaily. "Our focus is on offering the best savings rates and the most responsible credit products in the market." Zopa's lending book has grown to £3.8 billion, spanning personal loans, credit cards, and car finance, with a net interest margin of 4.2 per cent.

The bank reported pre-tax profits of £42 million for the first half of 2025, putting it on course for a full-year profit approaching £90 million. Investors have taken notice: SoftBank Vision Fund, which led Zopa's last funding round in 2021, is understood to be in discussions about a secondary share sale that would value the company at approximately £1.5 billion. "Zopa has found a profitable niche that the big neobanks have largely overlooked," said Emma Martins, fintech analyst at Jefferies. "Their capital-light model and focus on net interest income makes them genuinely attractive."