Kroo Bank Ltd Credit Rating
Kroo Bank Ltd does not currently have a public long-term credit rating from the major agencies, so no rating is shown here. That is common among smaller and newer UK banks and is not in itself a sign of financial weakness — ratings are typically sought by institutions that raise debt in wholesale markets. Eligible deposits with UK-authorised banks and building societies are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per eligible person, per banking licence (the limit rose from £85,000 on 1 December 2025). Where several brands share a single banking licence, that £120,000 limit is shared across those brands rather than applying to each one separately.
Rating History
Service record: complaints, incidents and customer survey
Complaints: in the FCA's 2025 H2 file (July 2025 to December 2025), Kroo Bank received 820 banking and credit-card complaints. The bank upheld 29% of those it closed and closed 0% within three days. Compare all banks.
Outages and incidents: Kroo Bank reported
1 major operational or security incident to the FCA in the quarter to 31 July 2026
Latest News
Is Kroo safe? What the record shows
Kroo has no public credit rating, so there is no agency opinion to report. What follows is the verifiable record instead: each statement is taken from the source named beneath it, last checked 15 October 2026. It is information, not advice.
Banking licence
Kroo Bank Ltd (FCA firm reference 953772, company number 10359002) was founded in 2016 as B-Social. It received a restricted banking licence from the PRA on 7 July 2021, capping total deposits at £50,000 during mobilisation, and full authorisation as a bank on 24 June 2022. Its current account launched to the public on 5 December 2022.
Source: Kroo Bank Ltd annual report 2022, 31 Dec 2022Ownership and funding
Kroo is a private company funded by venture and individual investors, including a 2023 Crowdcube round that raised over £2 million from 2,702 investors, and its largest shareholder sits on the board. It raised £12.5 million of equity in 2024, £34.7 million in 2025 and a further £24.4 million between January and October 2026, and its 2025 accounts say capital raising will continue through 2026 and beyond.
Source: Kroo Bank Ltd annual report 2025 (Companies House), 31 Dec 2025At an extraordinary general meeting on 30 July 2025, requisitioned by shareholders holding over 5% of the company, resolutions to remove two directors (who had already resigned earlier that month) passed with about 91% support, while shareholder proposals to appoint two new directors and adopt a shareholder-written breakeven plan did not pass. Veronika Lovett was appointed chief executive in December 2025.
Source: Kroo Bank Ltd annual report 2025 (Companies House), 31 Dec 2025Size
At 31 December 2025 Kroo held £757.4 million of customer deposits across 188,302 personal current accounts, down from £965.8 million a year earlier; the accounts attribute the fall to marketing largely ceasing while capital was constrained. Deposits had briefly passed £1 billion in November 2024. Total assets were £781.9 million and staff numbers fell from 224 to 196 during 2025.
Source: Kroo Bank Ltd annual report 2025 (Companies House), 31 Dec 2025Profitability
Kroo has not yet reported a profit. Its loss before tax was £21.3 million in 2025, £19.3 million in 2024, £27.9 million in 2023 and £16.3 million in 2022. The 2025 accounts say the bank expects to continue to incur losses until at least the end of 2026 and describe a 12-month plan to reach breakeven, having earlier told the press it aimed to be profitable in the first half of 2025.
Source: Kroo Bank Ltd annual report 2025 (Companies House), 31 Dec 2025The auditors' reports on both the 2024 and 2025 accounts include a paragraph headed "material uncertainty related to going concern". The 2025 accounts state that additional capital will be required before 1 October 2027 and that, if it is not received, the company will breach its capital requirements. Kroo has raised fresh equity each year to date.
Source: Kroo Bank Ltd annual report 2025 (Companies House), 31 Dec 2025Capital strength
At 31 December 2025 Kroo's regulatory capital was £21.8 million, all Common Equity Tier 1, giving a CET1 and total capital ratio of 66.2% (2024: 24.0%) on a small risk-weighted balance sheet; its liquidity coverage ratio was 942%. The high ratios reflect that most deposits are held in cash and low-risk assets rather than lent out, and the absolute capital base is small relative to £757 million of deposits.
Source: Kroo Bank Ltd annual report 2025 (Companies House), 31 Dec 2025Kroo's latest published Pillar 3 disclosure, for 31 December 2024, showed CET1 capital of £7.3 million, a CET1 ratio of 24.0%, a leverage ratio of 21.2% and a PRA total capital requirement of 10.89% of risk-weighted assets; it noted £26.0 million of further Tier 1 capital issued by 31 July 2025.
Source: Kroo Bank Ltd Pillar 3 disclosure 2024, 31 Dec 2024Regulatory record since 2020
No FCA final notice or PRA enforcement action against Kroo was found. The only FCA item naming Kroo is a December 2021 warning about fraudsters cloning the authorised firm. The 2025 accounts disclose a £150,000 provision to compensate a small number of customers for arrears and repeat-overdraft communications that did not fully meet the FCA's consumer credit rules.
Source: FCA news search, final notices, "kroo", 15 Oct 2026Credit ratings
No public rating from S&P, Moody's, Fitch or any other agency was found for Kroo, and its annual reports and Pillar 3 disclosures do not refer to one. Kroo funds itself from customer deposits and equity rather than rated debt.
Source: Kroo Bank Ltd Pillar 3 disclosure 2024, 31 Dec 2024Deposit protection
Eligible deposits with Kroo Bank Ltd are protected by the FSCS up to £120,000 per person. Kroo trades under its own name only, so the limit is not shared with any other brand.
Source: Kroo Bank website (regulatory footer), 15 Oct 2026Operational incidents
Kroo's public status page records short outages rather than prolonged ones: a 25-minute delay in transaction visibility on 5 December 2023 and a 100-minute outage of inbound and outbound Faster Payments on 1 August 2025. In February 2023 a surge of applications after a Martin Lewis recommendation led to reported errors and account reviews of 7 to 10 days. No data breach was found.
Source: Kroo status page incident history, 1 Aug 2025Frequently asked questions about Kroo Bank Ltd
Is Kroo Bank Ltd safe?
Kroo Bank Ltd has no public long-term credit rating from the major agencies, so there is no rating to assess here. A missing rating is not evidence of weakness — many smaller and newer UK banks simply do not seek one. Separately, Eligible deposits with UK-authorised banks and building societies are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per eligible person, per banking licence (the limit rose from £85,000 on 1 December 2025). Where several brands share a single banking licence, that £120,000 limit is shared across those brands rather than applying to each one separately. This page is information about published credit ratings, not financial advice.
What is Kroo Bank Ltd's credit rating?
Kroo Bank Ltd does not have a publicly available long-term issuer credit rating from S&P, Moody's or Fitch.
Is Kroo Bank Ltd covered by the FSCS?
Eligible deposits with UK-authorised banks and building societies are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per eligible person, per banking licence (the limit rose from £85,000 on 1 December 2025). Where several brands share a single banking licence, that £120,000 limit is shared across those brands rather than applying to each one separately. Kroo Bank Ltd is recorded with FCA reference 953772. Because protection follows the banking licence rather than the brand, check the current position and which brands share a licence on the FSCS website before relying on it.
Who owns Kroo Bank Ltd?
Kroo Bank Ltd is owned by Private (VC-backed). Ownership matters for credit ratings because agencies often factor in the likelihood of support from a parent group, and because brands under the same banking licence share a single FSCS limit.
Is Kroo a real bank?
Kroo Bank Ltd (FCA firm reference 953772, company number 10359002) was founded in 2016 as B-Social. It received a restricted banking licence from the PRA on 7 July 2021, capping total deposits at £50,000 during mobilisation, and full authorisation as a bank on 24 June 2022. Its current account launched to the public on 5 December 2022.
Is Kroo profitable?
Kroo has not yet reported a profit. Its loss before tax was £21.3 million in 2025, £19.3 million in 2024, £27.9 million in 2023 and £16.3 million in 2022. The 2025 accounts say the bank expects to continue to incur losses until at least the end of 2026 and describe a 12-month plan to reach breakeven, having earlier told the press it aimed to be profitable in the first half of 2025.
Has Kroo been fined by the FCA?
No FCA final notice or PRA enforcement action against Kroo was found. The only FCA item naming Kroo is a December 2021 warning about fraudsters cloning the authorised firm. The 2025 accounts disclose a £150,000 provision to compensate a small number of customers for arrears and repeat-overdraft communications that did not fully meet the FCA's consumer credit rules.
Who owns Kroo?
Kroo is a private company funded by venture and individual investors, including a 2023 Crowdcube round that raised over £2 million from 2,702 investors, and its largest shareholder sits on the board. It raised £12.5 million of equity in 2024, £34.7 million in 2025 and a further £24.4 million between January and October 2026, and its 2025 accounts say capital raising will continue through 2026 and beyond.