LONDON, June 3 (Reuters) – Monzo reported its first annual profit on Monday in a milestone for the fast-growing British digital bank and said it would open an office in Ireland as it looks to expand into other European markets.
The mobile app-based bank has amassed 9.7 million customers in Britain since its launch in 2015 but had previously found it tough to translate its popularity into profit.
Monzo reported a pretax profit of 15.4 million pounds ($19.6 million) for the year to March 2024, compared with a 116.3 million pound loss the previous year.
Source: REUTER
