Monzo becomes profitable after increase in lending and customer deposits
Monzo, a British digital bank, has reported profitability for the first time after experiencing a surge in lending and more customers depositing cash. The bank, which has over 7.4 million personal customers, achieved profitability in March and expects to maintain it throughout the year. Monzo's CEO, TS Anil, stated that profitability has always been a choice for the bank, as it has focused on investing in opportunities and expanding its customer base.