For the first time in its history, the digital bank Monzo has achieved profitability, marking a significant milestone in its financial journey.

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Financial Times 2w ago

For the first time in its history, the digital bank Monzo has achieved profitability, marking a significant milestone in its financial journey. - Financial Times

Quick Summary:

Industry challenger swings to £15.

The neobank, founded in 2015, posted a £15.4mn pre-tax profit in the year to the end of March, up from a £116.3mn loss the year before.

The company, which is preparing its second attempt to launch in the US, also announced plans to enter the European market by first entering Ireland, where it said it was opening an office.