Crypto EcoBlog
Monzo hit profitability after its lending volume for the period ending February 2023 ballooned to £759.7 million. British neobank Monzo Bank has revealed it attained monthly profitability for the first time in 2023 following a lending surge. In its annual report for the year ending February 2023, the online bank said it became profitable two months into the year. Monzo said it earned a 382% increase in net interest income which amounted to £164.2 million, driven by a surge in lending...
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