Monzo in black after nine years 

Digital bank Monzo has reported its first annual profit since its inception nine years ago. CEO TS Anil revealed a pre-tax profit of £15.4m for the year up to the end of March, compared to a £116.3m loss the previous year. Monzo, which has nearly 10 million customers and is the UK’s seventh largest bank, attributes its success to increased customer deposits and higher interest rates, and is now planning to expand into Europe and the US.