● In their latest financial results Prof. Dr. Jan Kemper Chief | Argenta Solutions Fintech

● In their latest financial results Prof. Dr. Jan Kemper Chief Financial Officer for N26 mentioned “the company wants to get to break even without needing to raise more funds” showing that N26 moved away from growth toward profitability focused indicators, where increasing users' activity and engagement are key for the start-up to ensure it is building a pathway to sustainable future growth.
● Monzo Bank is keeping losses under control and the bank is generating revenue at a faster pace than costs, leaving the “material uncertainty” claimed on previous financial statements behind.
● In September 2021, Monzo significantly increased lending book by introducing Monzo Flex, which saw over 35,000 customers using BNPL lending by the end of FY2022. Gross issued loans increased in £144 million, following a decrease of £39 million the previous year.
● Starling Bank broke even for the first time in October 2020. It has been profitable ever since and posted its first full year of profitability, for the end of the financial year.
● Starling’s profitability, 7 years after launch, comes mainly from increase of customers’ use of their debit cards and client transaction charges, together with increased Starling lending activities. Where “bounce back” loans represents more of 40% of its lending book.
● However, concerns on its sustainability are escalating as in December the lender told the Public Accounts Committee that over a third of bounce back loans approved by Starling Bank during the pandemic are at risk of default.