Monzo Bank released all of their financials for last year
Annual Report 2024 | Monzo
Year in review 2024A year ofmilestonesand momentum£15.4 millionprofit in FY2488%increase in customer depositspeople's relationship withmoney. We've built a businessmodel that's designed entirelyaround customers, and oursuccess proves that it works."We had ourfirst full year ofprofitabilityWith growth in allareas of the businessIt's been ayear of winsWinningcustomersCustomers have an averageof 38 friends who use Monzo400k+business customers(up from 200k in FY23)9.3+ millionpersonal customers(up from 7.4m in FY23)70Net Promoter ScoreHow likely a customer is to recommend us66%of customers jointhrough word of mouthmore likely to find the word'love' in a review aboutMonzo than any other bankWinningloveWinningtrust1 in 7new businesses apply for aMonzo account#1for Overall Service QualityVoted by customers in the IndependentCompetition and Markets Authority surveycarried out in Great Britain by Ipsos Moribetween January 2023 and December 2023.Learn moreWe're makingmoney feeldifferentPuttingmoney to workInstant Access Savings launched forbusiness and personal customersUsed by more than1.3m customersMaking sure customersbenefitted from every Bankof England rate increaseMore than £130m ininterest paid to customerssince launchA third of customers areinvesting for the firsttime ever45% of women arefirst-time investorsBreakingdown barriersto financeMonzo Investments lets you investas little as £1, with interactive guidancealong the wayProtectingwith anindustry-firstCall Status tells you if we’re callingyou or not so you know it's usCall Status lets you reportattempted fraud directly inthe app700+ reports ofattempted fraud a monthusing this featureAnd the bestis yet to come...We now have3,700+ employeesWe’re paintingthe UK hot coral"I’ve never believed in the ideathat a company has to choose betweeneither being mission-oriented orfocussed on business outcomes.FY2024 proved Monzo is doing both.We’ve achieved scale, growth andprofitability, and we have allthe right components to seizethe huge opportunity ahead."Downloadthe full reportDownload the reportYou can also download ourPillar 3 disclosures