StreamBank, the new lending and savings bank in the UK launched by online broker ActivTrades controlling shareholder Alex Pusco earlier this decade, has reported its financial results for fiscal 2026 (year ended March 31, 2026), showing continued growth in its loan portfolio, although after turning a modest profit in 2025 the company reported a loss for the year.

Revenue (or in banking parlance Net Operating Income) at StreamBank, almost entirely interest income, came in at £12.0 million in 2026, up from £11.4 million in 2025. On the bottom line StreamBank reported a 2026 Net Loss of £2.9 million, versus a profit of £0.9 million the previous year.

The loss was due mainly to significant one-off provisions taken against legacy loans during the year. StreamBank is not expecting this to continue in financial year 2027.

We had reported back in 2023 that Alex Pusco was effectively diverting resources from ActivTrades to StreamBank, as the banking business was launching. However both operations seem to be running well now, with ActivTrades seeing two years in a row of healthy Revenues and positive profitability.

FY2026 review

StreamBank, which installed longtime AIB executive Nick Treble as Chairman following the departure of John Reed during the year, operates as a specialist property finance bank, providing short-term property lending alongside retail savings products that fund the company’s loan book. StreamBank focuses on bridging, supporting property investors, landlords, developers and homeowners undertaking property purchases, refurbishment projects and planning activity.

During the 2025/26 financial year, StreamBank’s gross loan portfolio increased to £165.4 million (2025:£160.3m), reflecting what the company called continued disciplined underwriting standards.

Chairman’s statement excerpts

This year has been one of consolidation and strengthening for StreamBank. Against a challenging and uneven market backdrop, the business has continued to mature, transitioning further from early-stage growth into a more established, resilient specialist property and savings bank. While wider market conditions have influenced the overall pace of growth, the focus has remained firmly on building a sustainable institution underpinned by strong governance, discipline and long-term thinking rather than short-term volume.

During the year, the Bank operated against a backdrop of continued economic uncertainty and geopolitical volatility, which had a pronounced impact on the UK housing market. Transaction volumes slowed, with properties taking longer to sell, and certain regions experienced year-on-year house price declines.

In response, the Bank deliberately tightened its credit risk appetite to protect asset quality, which, by design, constrained new lending and resulted in more modest loan book growth. At the same time, the existing back book continued to be affected by these market conditions, leading to increased provisioning. The higher provisions resulted in a loss of £3.8m before tax for the year. While this outcome is clearly disappointing, the actions taken have strengthened the Bank’s risk position and leave it better placed to deliver improved financial performance in the year ahead.

Key developments during the year

• Introduction of Title Insurance, an indemnity insurance that protects both the customer and us against financial loss from defects in a property’s title.
• Introduction of our Premier Panel of brokers, providing them with access to our best rates.
• Introduction of a Bridge-to-Let product in Q4, enabling borrowers to transition efficiently from short-term bridging finance to longer-term investment ownership. There are no drawdowns to date.