Monzo Bank reported fiscal 2026 pre-tax profit of £87.3M, up 44% year-over-year, driven by revenue growth of 39% to £1.7B. The UK digital bank added 3M users to reach 15M+ and grew deposits 55% to £25.7B.
The fintech lender's earnings jump reflects accelerating growth across core metrics. Revenue expansion of 39% outpaced user growth, indicating improved monetization per customer. Deposits increased 55% to £25.7B, significantly outpacing user additions, suggesting deeper customer engagement and trust.
Lending expansion emerged as the primary profit driver, with interest income lifting bottom-line results. The strategy marks Monzo's pivot toward higher-margin lending products beyond its core checking account offering.
Monzo has pursued profitability for years following its 2021 Series D funding round. The latest results demonstrate the bank has moved beyond breakeven, achieving sustainable positive returns. The 3M user addition—from 12M to 15M+—reflects steady acquisition momentum in a competitive UK fintech market dominated by competitors including Revolut and Chase.
The deposit growth rate of 55% substantially exceeds user growth, indicating existing customers are consolidating more financial activity within Monzo.
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