Monzo welcomed more than 3m new customers in FY 2026 (+25% YoY). 79% of new customers joining by word-of-mouth. Today, around 1 in 5 UK adults and 1 in 7 UK businesses bank with Monzo.

FY2026 marked a pivotal year for Monzo. The company delivered a strong financial performance with revenue increased by 39% to £1.7bn (FY2025: £1.2bn) and gross profit of £1.0bn (FY2025: £747.9m), up 35%, according to the Annual Report. Adjusted profit before tax was £172.6m (FY2025: £143.9m), marking company’s third consecutive year of profitability.

Monzo income is increasingly diversified, with four revenue streams generating over £300m each including current account balances, borrowing, payments and wealth, „demonstrating the strength of the model” – according to Diana Layfield, Group Chief Executive Officer.

Deposits increased by 55% to £25.7bn (FY2025: £16.6bn) as over 3.5m customers (FY2025: 2.3m) now save with Monzo. 4.1m customers choose Monzo for their borrowing needs with our lending book growing 42% year-on-year (FY2025: £1.9bn). And more than 1.6m customers (FY2025: 1m+) enjoy the additional benefits offered by our subscription plans.

New customers

In FY2026, Monzo welcomed more than 3m new customers across personal and business accounts, bringing the total to 15.2m, a 25% increase year on year (FY2025: 12.2m). This included an impressive 45% jump in business customers to a total 905k (FY2025: 625k).

„Today, around 1 in 5 UK adults and 1 in 7 UK businesses bank with Monzo – clear evidence of the continued demand for a bank that truly works for them. There’s still a big opportunity to do more in the UK, across all demographics.

For example, less than a year after launching Monzo for Under 16s, the product has more than 1m customers, many of whom are taking their first ever steps into money management. More than a decade since Monzo was founded, customer growth remains largely organic with 79% of new customers joining by word-of-mouth in FY2026.” – Layfield commented.

In FY2026, Monthly Active Users rose by 26% to 10.4m, with around half of our active customers using Monzo as their primary bank.

Profitability