The majority of the funds were raised through the building society’s Red Balloon Appeal Account over the last 16 years. The account is a special savings product designed to benefit both customers and the hospital.

Jonathan Westhoff, Chief Executive Officer at the West Brom, said: “The principle behind the account is simple. We assign the accounts a rate of interest, part of which pays our savers and the rest is then donated as an annual bonus payment for Birmingham Children’s Hospital Charity.

“We’re so grateful for the generosity of our members who support the hospital through our Red Balloon Appeal Account which is also topped up through colleagues taking part in fundraising activities. The money all adds up and makes a real difference to young people in the hospital’s care.”

Birmingham Children’s Hospital delivers some of the most advanced treatments, complex surgical procedures and cutting-edge research to over 90,000 children and young people, each year, from across the UK and beyond.

The Red Balloon Appeal Account was launched in 2007 and the funds raised have been used for a number of initiatives at the hospital, including helping fund a new cancer ward and burns unit.

In addition, colleagues at the West Brom have taken part in a number of fundraising activities over the years to boost funds, including this year’s Dragon Boat Race held canalside at Mailbox Birmingham.

Mark Brider, Chief Executive Officer at Birmingham Children’s Hospital Charity, said: “Congratulations to the West Brom for reaching this phenomenal milestone. Our partnership with the West Brom is one of our longest running and it can’t be overstated how very special it is to us. Their support year after year allows us to plan ahead for new projects, research and equipment at our hospital, to ensure we continue providing world-class care to our brave patients. A very big thank you to them and their members.”

The Red Balloon Appeal Account can be opened in branch or by post.