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Monzo prepares for potential IPO amid significant growth and expansion plans

Monzo reported its first annual profit before tax of £15.4 million for the financial year ending March 2024, a significant turnaround from a £116.3 million loss the previous year. Revenue surged to £880 million, driven by new savings and lending products, while customer numbers exceeded 9.3 million. The bank plans to launch pension and mortgage products and expand into the US and Europe, despite ongoing regulatory scrutiny from the Financial Conduct Authority regarding past compliance issues.
IG
Euro British Pound Sterling United States Dollar Citizens, Inc. Alphabet's (Google) TENCENT JPMorgan Chase & Co. Lloyds Banking Group plc GBR Jonas Huckstein Jason Bates Paul Rippon Gary Dolman Tom Blomfield Show more
TradFi, Market Report
13:10 28.10.2024
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