Overview

• Revenue climbed 48% to £1.2 billion in the year to March 31, marking the first time Monzo topped £1 billion and boosting pretax profit to £60.5 million
• Customer deposits surged 48% to £16.6 billion while its customer base expanded to 12.2 million
• Adjusted profit reached £113.9 million after excluding a one-off £53.4 million share-sale cost despite a 47% rise in expenses and a 73% cost-to-income ratio
• Monzo is preparing for an initial public offering with plans to appoint bankers for a likely London listing
• The bank secured a £4.5 billion valuation in last October’s employee share sale and is targeting growth across Europe and the United States