In the black: Monzo reported a pre-tax profit of £15.4m for the year to the end of MarchMonzo has reported its first annual profit since launching nine years ago as it works towards a stock market listing. Chief executive TS Anil said it was a ‘landmark year of record growth’ for the digital bank, which has nearly 10million customers. Monzo reported a pre-tax profit of £15.4million for the year to the end of March, compared with a pre-tax loss of £116.3million the previous year. The bank, which is the UK’s seventh largest, is also preparing to launch in the US. Anil has previously said the challenger bank’s aim is to list on the stock market – with London seen as a possible destination.

Source: Daily Mail June 04, 2024 08:56 UTC