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.

NatWest CEO Paul Thwaite recently highlighted the challenges the bank faces due to soaring stock prices. This situation complicates the expansion of its asset management business through acquisitions, raising questions about its future growth strategy.