SoFi Technologies' national bank charter, obtained in 2022, has transformed its funding model and fueled rapid growth. Since the charter, deposits have ballooned from $1.2 billion to $40.2 billion, now representing 94% of total liabilities. This low-cost, sticky funding source helped net interest income jump 781% from $252 million in 2021 to over $2.2 billion in 2025, with a Q1 2026 net interest margin of 5.94%. Management expects adjusted earnings per share to grow at a 40% compound annual rate over the next three years, a tailwind for long-term shareholders.
SoFi Technologies Inc.Bank charter enabled deposit surge, boosting net interest income and earnings growth outlook.