Monzo’s Profit Jumps 44% as Fintech Moves Further Into Lending

Monzo Bank Ltd. reported a 44% jump in profit in the year through March, as growth in lending lifted interest income.

The UK digital bank reeled in £87.3 million ($117 million) of profit before tax during the year, up from £60.5 million, according to a statement on Tuesday. Revenue rose to £1.7 billion, up about 39% from the year prior.