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Monzo alters its financial year and reports FY 2024 revenue of £880M, 9.7M customers, £11.2B in deposits, and a pretax profit of £15.4M, vs. a loss in FY 2023

- British digital bank now has almost 10 million customers  — Monzo is opening a new office in Ireland to grow in the EU

Bloomberg Aisha S Gani

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Discussion

  • @natalieahills Natalie Hills on x
    https://monzo.com/... 🚀 - We have welcomed over 9.7m customers to Monzo (an increase of 31% since last year!) - #1 bank for overall service quality in online & mobile - Launch of Call Status (which stops 700 attempted frauds each month) - Revenue growth up 2.5x to £880.0m
  • @sytaylor Simon Taylor on x
    Monzo just released its FY2024 results. Spoiler alert. They crushed. - £15.4m profit - 2.5x revenue growth - 88% increase in deposits (to £11.4bn) They're executing on profitability and they've barely started lending Don't see many domestic threats but can they go global?