Opinion, Prudential

Monzo Bank’s profitability masks risks of “narrow” banking

By Frances Coppola
Monzo
Image via Monzo

Digital bank Monzo has swung to profit for the first time. But its new-found profitability could prove short-lived as the end may be nigh for “narrow banks”.

Full-year results just released show pre-tax profits of £15.4mn, generated largely from higher net-interest margins. Monzo, ...

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