US EditionMonzo’s glossy growth is backed by old bank tricks
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Monzo’s glossy growth is backed by old bank tricks
The $6 bln neobank turned a profit for the second year in a row, thanks to rising deposits and still-high UK rates. More lending, hedging and bond-buying should help the group prepare for falling yields. The risk is that a bank-like model implies a subdued bank-like valuation.
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