This comes alongside a similar widening of losses at digital banking competitors Monzo and Starling. Monzo reported a loss of £113.8 million ($149.5 million) in its 2020 fiscal accounts, up from the £47.1 million loss in 2019. Monzo Bank Ltd (/ ˈ m ɒ n z oʊ /), is an online bank based in the United Kingdom. Image source: Monzo. In connection with the publication of the Annual Report 2019/2020, the comments by Martina Merz, CEO and Klaus Keysberg, CFO as well as the following Q&A session are available here. Popular London fintech Revolut recorded post-tax losses of £107.4m last year, despite strong growth in customer numbers and revenues. @AnneBoden CEO & Founder 2020 published reporting for 2018/19 financial year. Personal Corporates. But if you don’t have time to read all 92 pages, which cover the period February 2018 to February 2019, here are the top 5 things we learnt: Financial results details plus additional information, Annual- and Interim Reports from 1997. Monzo’s annual report, which covers a 12-month period to February, saw the start-up’s losses rise from £47.1 million to £113.8 million … [Starling Bank] reported losses of £52 million in 2019, up from £25 million for the previous year. Startup bank Monzo faces a “pivotal” year as it races to become self-funding amid mounting losses. Half year 2019. Photo: Monzo. View our Trading Update October 2020. Corporates Overview. 26th May 2020 | Aisling Finn . During 2020 Monzo cut staff, shut its Las Vegas office after a highly publicised push to the US, and scrambled to raise emergency funds. Transcript of Q3 2019 results call. Monzo’s latest report shows that it was required to raise its capital to 13.65pc of its risk-weighted assets, up from 8.5pc. The five-year-old company more than tripled its losses from 2018, which stood at £32.8m, according to the company’s annual report for 2019, published today. At Monzo, similarly, revenue is up and customers have nearly doubled their deposits with the bank. Full year 2019. These analyses will help to evaluate the external and internal … The future of fintech unicorn Monzo is in jeopardy after the firm reported its annual losses have more than doubled due to the pandemic.. Digital bank Monzo just published its 2019 Annual Report and, as usual, it’s a gorgeously designed and elegantly written body of work.. Revolut’s UK rival Monzo flagged in its annual report last month significant doubt in its ability to continue as a going concern, after losses more than doubled to 113.8 million pounds. Monzo has revealed its annual post-tax loss for 2020 is £113.8m, which is a huge jump from the £47.1m recorded last year. Annual report and accounts. Read the full letter. Originally operating through a mobile app and a prepaid debit card, in April 2017 its UK banking licence restrictions were lifted, enabling it to offer a full current account. Financial results: FY 2019. By Freya Pratty 8 October 2020 \Fintech Analysis / Monzo’s annual results: the good news and the bad news There was some good news amid the gloom for Monzo. Breaking: Monzo’s chief credit officer Tim Trailor has joined Capital On Tap. FILE PHOTO: A Monzo logo is seen in this illustration taken January 6, 2020. It caused the fintech industry to question the viability of the European neobank model. 1st June 2020 | Oliver Smith. Pillar 3 Disclosure: 2019 . 2020 has been a transformational year for Starling. Yet Monzo’s annual report released last week presented the capital outlook for the bank as uncertain, even though just five months have passed since February. The start-up’s latest annual report comes after the company’s valuation dropped from more than £2 billion to around £1.25 billion in a June funding round. 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