British digital bank Monzo has announced its first-ever pre-tax profit exceeding £60 million and annual revenue topping £1 billion (approximately USD 1.35 billion), underscoring its rapid ascent in the competitive UK banking sector. This marks a significant shift for the mobile-first neobank, which reported a loss just two years prior.

Recently, notable news has surfaced in the financial sector, garnering significant interest among analysts and investors alike. HSBC Holdings Plc and Lloyds Banking Group Plc have jointly raised approximately £600 million (around $781 million) in debt financing to support the acquisition of Kee Safety, a British company renowned for its safety systems. This transaction highlights the proactive stance of major banks in financing strategic investments amid the current economic climate.