Becoming the fastest-growing UK fintech ever.

Download full annual report

Our journey so far

From our spirited start in 2019, we've gone from strength to strength. 2023 saw Allica Bank post our first ever full year of profitability and be named the fastest-growing UK fintech ever.

2019: Q3; The start of our journey: we received our full UK banking licence

2020: Q1; A big moment: we completed our first loan to a UK SME

2021: Q2; Our loan book exceeds £100m

: Q4; Series B funding round, raising £112m of capital

2022: Q1; Our deposit book exceeds £1bn

: Q2; Allica posts our first ever monthly profit

: Q3; Our loan book exceeds £1bn. Asset finance reaches £150m of lending

: Q4; £100m Series C funding round led by global technology investor TCV

2023: Q1; Pass £200m of asset finance lending

: Q2; We pass the landmark figure of £2bn in customer deposits

: Q2; Allica wins ‘Best Finance Provider’ at the British Bank Awards

: Q3; Our £7.5bn Savings Squeeze campaign is covered by the Times and Telegraph

: Q4; Our Business Rewards account hits over 2,000 customers

: Q4; We’re announced as the fastest-growing fintech ever in the history of Deloitte’s Fast 50 Awards

141% growth

in gross revenue*

2023: £191m, 2022: £79.3m

*Gross revenue comprises interest income, fee and commission income, and fair value and other gains for the year

£16.1m

in pre-tax profit

47%

increase in lending to established businesses

£72.5m

gross profit after risk**

**Gross profit is calculated as total operating income less impairment losses

496 colleagues

Up from 324 in 2022

75%

Increase in customer deposits

In 2023, we launched our flagship business current account

Offering a business current account with a dedicated relationship manager, market leading interest rates, cashback on card purchases and no monthly fees proved popular. A year after launch, our Business Rewards Account had notched up 2,000 customers.

See our business current account

We're continually humbled by our fantastic customer feedback

4.5

star rating (‘Excellent’) on independent reviews website Trustpilot

based on 800+ customer reviews

60%

Net Promote Score (NPS) as measured by RFI Global in November 23

19 Sep 2023

Great so far- excellent interest rate…

excellent interest rate on the savings account. Looking forward to when they will integrate with Xero so that I can ditch our existing current account provider totally!

12 Sep 2023

Refreshing banking Experience

What a refreshing approach to banking. Amazing Customer service provided by our account manager Luke Veale. The account was really easy to open, quick response times and best of all high % on savings account better than any offered by our normal business bank that we have been with for 20 years. So good to have a proactive approach

07 Sep 2023

Allica Bank has reinvented old…

The calling officer knew what he was talking about and it was a breaze to go through Complaince and Money Laundering issues. The account itself was opened in 24 hours not the weeks, months it takes with any other UK bank. The service is perfect - if there are questions these are anwered in hours

07 Sep 2023

Great SME bank account

Great SME bank account - will literally save us £'000s per year through the cashback offering and interest rate on savings. Decent relationship manager to who took the time to phone and discuss any other needs we might have.

07 Sep 2023

Allica bank are excellent

Great interest rates, cashback on direct debit transactions, no charges for bacs payments and no monthly charges unlike my other business accounts with RBS. Customer service is also excellent.

24 Aug 2023

Excellent communications with Matt

Easy to set up account, Matt was and remains available for any queries ( we only had one small hiccup but was dealt with same day by phone ) which is very rare this day to get to speak to a person who knows what they are meant to do, will recommend to friends

19 Sep 2023

Great so far- excellent interest rate…

excellent interest rate on the savings account. Looking forward to when they will integrate with Xero so that I can ditch our existing current account provider totally!

12 Sep 2023

Refreshing banking Experience

07 Sep 2023

Allica Bank has reinvented old…

07 Sep 2023

Great SME bank account

07 Sep 2023

Allica bank are excellent

Great interest rates, cashback on direct debit transactions, no charges for bacs payments and no monthly charges unlike my other business accounts with RBS. Customer service is also excellent.

24 Aug 2023

Excellent communications with Matt

And the kudos from our partners and peers

88%

of our broker partners rated their overall experience with Allica Bank as ‘Excellent’ or ‘Good’

94%

of our broker partners said their Allica relationship manager’s expertise, responsiveness and working relationship was ‘Excellent’ or ‘Good’

“The fast decision was a crucial part of my client’s growth plans. The deal was approved just in 48 hours and the pay-out was within 24 hours.”

Gary Burns

MAF Finance Group

“My client and I are very happy with the efficiency and speed of Allica’s lending. The Allica team played a crucial part in getting commercial mortgage for my client.”

Harry Singh

Veer Capital

“Refinancing my client’s assets was a big help in their growth plans. The deal was approved promptly and Allica provided even better terms than our client expected.”

Ian Berridge

Business Finance Trust

"Working with Allica Bank to secure our client finance is exactly how SME financing should be. Processing the application was easy and the payout was quick.”

Kyrelos Khir

Spark Finance

"Nothing was too complicated, and the underwriting was turned around quickly. This was an absolute joy.”

Adam Stiles

Helix Financial Partners

“The deal was approved very quickly and payout was within 4 hours of the client returning the signed documents.”

Liam Delaney

MAF Finance Group

"My client needed a quick decision and payout. Allica’s Business Development Manager went above and beyond to complete the deal in just 5 weeks.”

Mark Flanagan

Commercial Finance Partnership

“The asset finance deal was approved very quickly and pay-out was within 4 hours of the client returning the signed document.”

Harry Singh

Veer Capital

"Allica Bank’s fast payout allowed our client to start generating revenue from the new equipment immediately.”

Eddie Shaw

Acorn Business Finance

"Allica’s process is clear and easy to follow as a broker which helps convey requirements and next steps to clients.”

David Beck

NRG Commercial Finance

"The support from Allica’s Business Development Manager was invaluable. She provided a refreshing approach much needed in the commercial lending market.”

Cedric Ulett

Grand Union Financial

"The support from Allica’s Business Development Manager was invaluable. She provided a refreshing approach much needed in the commercial lending market.”

Cedric Ulett

Grand Union Financial

“The fast decision was a crucial part of my client’s growth plans. The deal was approved just in 48 hours and the pay-out was within 24 hours.”

Gary Burns

MAF Finance Group

“My client and I are very happy with the efficiency and speed of Allica’s lending. The Allica team played a crucial part in getting commercial mortgage for my client.”

Harry Singh

Veer Capital

“Refinancing my client’s assets was a big help in their growth plans. The deal was approved promptly and Allica provided even better terms than our client expected.”

Ian Berridge

Business Finance Trust

"Working with Allica Bank to secure our client finance is exactly how SME financing should be. Processing the application was easy and the payout was quick.”

Kyrelos Khir

Spark Finance

"Nothing was too complicated, and the underwriting was turned around quickly. This was an absolute joy.”

Adam Stiles

Helix Financial Partners

“The deal was approved very quickly and payout was within 4 hours of the client returning the signed documents.”

Liam Delaney

MAF Finance Group

"My client needed a quick decision and payout. Allica’s Business Development Manager went above and beyond to complete the deal in just 5 weeks.”

Mark Flanagan

Commercial Finance Partnership

“The asset finance deal was approved very quickly and pay-out was within 4 hours of the client returning the signed document.”

Harry Singh

Veer Capital

"Allica Bank’s fast payout allowed our client to start generating revenue from the new equipment immediately.”

Eddie Shaw

Acorn Business Finance

"Allica’s process is clear and easy to follow as a broker which helps convey requirements and next steps to clients.”

David Beck

NRG Commercial Finance

"The support from Allica’s Business Development Manager was invaluable. She provided a refreshing approach much needed in the commercial lending market.”

Cedric Ulett

Grand Union Financial

"The support from Allica’s Business Development Manager was invaluable. She provided a refreshing approach much needed in the commercial lending market.”

Cedric Ulett

Grand Union Financial

Colleague feedback

88%

of our colleagues would recommend Allica as a place to work

92%

92% of our colleagues tell us they believe Allica’s culture supports diversity. 

We won some awards, too…

BBA_Winner_DeepGreen_72dpi_Best_business_finance_provider

Paytech Awards 2023 - Paytech Team of the Year

AFC_Awards_winner_Highest_Ranked_New_Entrant

NACFB Commercial Lender Awards 2023 - Winner - Business Bank of the Year 2023

Patron Awards - Winner - Business Bank of the Year-3

Patron Awards - Winner - Specialist Lender of the Year

Patron Awards - Winner - Commercial Mortgage Lender of the Year-2

Patron Awards - Winner - Patron of the Year

Rosettes WINNER - Commercial Lender of the year 2023

Watch our year of transformational growth

Watch our 2023 wrap-up video to see how Allica became the fastest-growing fintech in the UK.

Financial information

Gross revenue

£191.0m

FY22: £79.3m

Gross profit after risk

£72.5m

FY22: £39.8m

Profit after tax

£19.2m

FY22: £5.6m profit after tax

New organic lending¹

£729.1m

FY22: £565.9m

New interest margin²

5.0%

FY22: 3.6%

Cost:income ratio³

65.0%

FY22: 85.7%

Total capital ratio

19.5%

FY22: 18.8%

New organic lending excludes loans advanced through forward flow arrangements and loan portfolio acquisitions
Net interest margin represents net interest income as a percentage of average interest-earning assets
Cost: income ratio is calculated as total operating expenses divided by total operating income

Download our 2023 annual report

Annual report 2023

Legal

Accessibility

Protecting your information and identity online

Modern Slavery Statement

Allica Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN: 821851). Registered office: 4th Floor, 164 Bishopsgate, London EC2M 4LX. Registered in England and Wales with company number 07706156.

Allica Bank savings accounts and business current account products are regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Allica Bank lending products are not regulated products.

Asset finance and growth finance services are provided by Allica Financial Services Limited trading as Allica Bank Asset Finance. Registered office: 4th Floor, 164 Bishopsgate, London EC2M 4LX. Incorporated under the laws of England and Wales with company number 12784979. Allica Financial Services Limited is not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. The asset finance and growth finance products offered by Allica Bank Asset Finance are not regulated products.

Bridging Finance services are provided by Allica Bridging Finance Limited. Registered office: 3rd Floor 12-18 Grosvenor Gardens, London, England, SW1W 0DH. Incorporated under the laws of England and Wales with company number 10859711. Allica Bridging Finance Limited is not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. The bridging products offered by Allica Bridging Finance Limited are not regulated products.

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Introducer Portal

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Introducer Portal

Becoming the fastest-growing UK fintech ever.

Our journey so far

141% growth

in gross revenue*

£16.1m

in pre-tax profit

47%

increase in lending to established businesses

£72.5m

gross profit after risk**

496 colleagues

Up from 324 in 2022

75%

Increase in customer deposits

In 2023, we launched our flagship business current account

We're continually humbled by our fantastic customer feedback

4.5

60%

19 Sep 2023

Great so far- excellent interest rate…

12 Sep 2023

Refreshing banking Experience

07 Sep 2023

Allica Bank has reinvented old…

07 Sep 2023

Great SME bank account

07 Sep 2023

Allica bank are excellent

24 Aug 2023

Excellent communications with Matt

19 Sep 2023

Great so far- excellent interest rate…

12 Sep 2023

Refreshing banking Experience

07 Sep 2023

Allica Bank has reinvented old…

07 Sep 2023

Great SME bank account

07 Sep 2023

Allica bank are excellent

24 Aug 2023

Excellent communications with Matt

And the kudos from our partners and peers

88%

94%

Gary Burns

MAF Finance Group

Harry Singh

Veer Capital

Ian Berridge

Business Finance Trust

Kyrelos Khir

Spark Finance

Adam Stiles

Helix Financial Partners

Liam Delaney

MAF Finance Group

Mark Flanagan

Commercial Finance Partnership

Harry Singh

Veer Capital

Eddie Shaw

Acorn Business Finance

David Beck

NRG Commercial Finance

Cedric Ulett

Grand Union Financial

Cedric Ulett

Grand Union Financial

Gary Burns

MAF Finance Group

Harry Singh

Veer Capital

Ian Berridge

Business Finance Trust

Kyrelos Khir