HSBC INNOVATION BANK LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-04-16 (in 11mo)
Last made up 2026-04-02
Watchouts
Cash
£944M
-23.2% vs 2023
Net assets
£2B
+13.3% highest in 3 filed years
Employees
740
+16% vs 2023
Profit before tax
£220M
+497.1% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
3-year trend · vs Financials median
Accounts
3-year trend · latest reflected 2024-12-31
| Metric | Trend | 2020-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Turnover | — | — | — | |
| Operating profit | — | £36,833,000 | £219,943,000 | |
| Profit before tax | — | £36,833,000 | £219,943,000 | |
| Net profit | — | -£17,345,000 | £148,025,000 | |
| Cash | £1 | £1,229,251,000 | £943,912,000 | |
| Total assets less current liabilities | — | — | — | |
| Net assets | £1 | £1,356,461,000 | £1,536,842,000 | |
| Equity | £1 | £1,356,461,000 | £1,536,842,000 | |
| Average employees | — | 638 | 740 | |
| Wages | — | £90,165,000 | £99,587,000 | |
| Directors' remuneration | — | £4,553,000 | £2,803,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
—
Not reported
-
Cash
-23.2%
£1,229,251,000 £943,912,000
-
Net assets
+13.3%
£1,356,461,000 £1,536,842,000
highest in 3 filed years
-
Employees
+16%
638 740
-
Operating profit
+497.1%
£36,833,000 £219,943,000
-
Profit before tax
+497.1%
£36,833,000 £219,943,000
-
Wages
+10.4%
£90,165,000 £99,587,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2020-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Gearing (liabilities / total assets) | — | 84.8% | 84.0% | |
| Interest cover | — | 0.21x | 1.02x |
Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- HSBC INNOVATION BANK LIMITED 2023-06-02 → present
- SILICON VALLEY BANK UK LIMITED 2022-07-18 → 2023-06-02
- SVBUK LTD 2020-04-03 → 2022-07-18
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Board, having made appropriate enquiries, is satisfied that there are adequate resources to continue operations for a period of at least 12 months from the date of this report and it, therefore, continues to adopt the going concern basis in preparing the financial statements.”
Significant events
- “Interim dividend of £135m resolved on 22 April 2025 for financial year ending 31 December 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| OSBORNE, Anushka Eroshini Herath | Secretary | 2026-01-01 | — | — |
| COWLES, James Charles | Director | 2025-07-25 | May 1955 | American |
| HEGDE, Mridul | Director | 2023-06-22 | Mar 1967 | British |
| HESLOP, Helen Louise | Director | 2021-02-01 | Dec 1969 | British |
| LEWIS LA TORRE, Catherine Elizabeth | Director | 2025-02-19 | Sep 1965 | British |
| TAIT, Stuart George | Director | 2023-06-06 | Dec 1962 | British |
| TURNER, Emily Elsas | Director | 2025-06-01 | Jul 1981 | American |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| WATTS, James Bradley | Secretary | 2020-04-03 | 2025-12-31 |
| FLYNN, Patrick John | Director | 2021-02-01 | 2024-02-27 |
| GREY, Astrid Cecile Helene | Director | 2021-02-01 | 2025-12-31 |
| HEWITT, Gavin Paul | Director | 2020-04-03 | 2023-01-25 |
| HINSHAW, John Mark | Director | 2023-06-06 | 2024-10-01 |
| MURRIA, Vinodka | Director | 2021-02-01 | 2023-05-16 |
| PLATTS, Erin Marie | Director | 2020-04-03 | 2024-11-04 |
| POPE, Darren Scott | Director | 2021-02-01 | 2024-04-22 |
| WOLFENDEN, Thomas Geoffrey | Director | 2023-08-07 | 2026-01-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Hsbc Uk Bank Plc | Corporate entity | Shares 75–100%, Voting 75–100% | 2023-03-13 | Active |
| Svb Financial Group | Corporate entity | Significant influence | 2020-04-03 | Ceased 2023-03-13 |
Filing timeline
Last 20 of 52 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-04-10 | CH01 | officers | Change person director company with change date | |
| 2026-01-02 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-02 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-01-02 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-01-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-08 | AA | accounts | Accounts with accounts type full | |
| 2025-07-31 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-02 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-02-19 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-04 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-01 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-21 | CH01 | officers | Change person director company with change date | |
| 2024-05-16 | AA | accounts | Accounts with accounts type full | |
| 2024-04-26 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-02 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-03-05 | TM01 | officers | Termination director company with name termination date | |
| 2023-10-19 | AA | accounts | Accounts with accounts type full | |
| 2023-09-19 | AUD | auditors | Auditors resignation company |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 3
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.