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Monzo reports £1.2bn revenue surge and denies immediate IPO plans

Customer deposits climbed to £16.6bn through expanded services with the FCA advancing its investigation.

A smartphone displays a Monzo logo in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
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TS Anil, the Monzo chief executive, has played down speculation of a flotation
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Overview

  • Monzo posted £1.2bn in revenue for the year to March 31, 2025, marking a 48% rise year-over-year.
  • Pretax profit climbed to £60.5m from £13.9m a year earlier and to £113.9m on an adjusted basis excluding share sale costs.
  • The bank’s customer base grew by 2.4m to 12.2m users, with one in three now treating Monzo as their primary account.
  • New products, including under-16 accounts, pensions and subscription tiers, helped boost fee and commission income by 38% to £329m.
  • CEO TS Anil said IPO discussions are premature as Monzo focuses on scaling while navigating an advanced FCA probe of its anti-money laundering controls.