SoftBank-backed fintech Zopa aims to double profit this year as it eyes 2025 current account launch [MSNBC.com]
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Source: MSNBC.com
Jaidev Janardana, CEO of U.K. digital bank Zopa.LISBON, Portugal — British online lender Zopa is on track to double profits and increase annual revenue by more than a third this year amid bumper demand for its banking services, the company's CEO told CNBC.Zopa posted revenues of £222 million ($281.7 million) in 2023 and is expecting to cross the £300 million revenue milestone this year — that would mark a 35% annual jump.The 2024 estimates are based on unaudited internal figures.The firm also says it is on track to increase pre-tax profits twofold in 2024, after hitting £15.8 million last year.Zopa, a regulated bank that isbacked by Japanese giant SoftBank"The business is doing really well. In 2024, we've hit or exceeded the plans across all metrics," CEO Jaidev Janardana told CNBC in an interview Wednesday.He said the strong performance is coming off the back of gradually improving sentiment in the U.K. economy, where Zopa operates exclusively.Commenting on Britain's macroeconomic co
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