As Monzo flounders, Starling Bank is on the verge of a profit

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As other digital banks continue to be battered by the coronavirus crisis, Starling Bank has weathered the trend: It is back on track to turn a profit by the end of this year.

In a business update released on Thursday, Starling announced that it had generated £ 6.7million for the month of July 2020, which means it could generate annual revenue of £ 80million sterling. This would make it the first major British neobank to make a profit.

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