Zopa Bank Doubles Its Profit, Grows Bigger and Stronger
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Zopa Bank, a digital bank from the UK, is now celebrating its second year of excellent financial performance and growth. The bank now has 1.4 million customers. It also earned twice as much profit as before, reaching £34.2 million in its latest year. This shows that Zopa is growing strong since it started four years ago.
Even when including some extra payments for workers, Zopa still made a great profit of £31.6 million. This is a big step up from the year before, when the profit was only £15.8 million. Zopa’s smart way of working is helping it grow fast.
Zopa Grows By Making Customers Happy
Zopa’s customer numbers went up by 28.1%. More people are using the bank’s savings and lending services. This helped Zopa make more money, with total revenue going up by 30.2% to £303.4 million. The money it made from its main work also went up by 33.9%, reaching £297.8 million.
Zopa is very good at keeping its costs low. Even while growing, it still had a cost-to-income ratio of just 37.7%. This means it is spending less and earning more, which is a sign of a strong and healthy bank.
Because of this, Zopa could use its profits to keep getting better. It made its services even more useful and easy for people. This helped more customers enjoy using Zopa and trust the bank with more of their money.
Zopa has a high score of 75 on its Net Promoter Score. This shows that many customers like the bank and would tell others to use it too. Zopa is now known as one of the best banks in the UK for customer happiness.
Zopa Prepares To Launch A New Account
The upcoming agenda of Zopa is to launch a different kind of bank account, which would be known as Zopa bank account. This account would be an easy-to-use account that provides great worth. Zopa wants to assist customers manage their finance easily.
In the past year, Zopa helped savers earn £205.4 million in interest. That’s almost three times more than what big banks give for the same kind of savings. This shows how much Zopa cares about giving back to its customers.
Zopa also worked with other big companies. It teamed up with Octopus Energy to help more people use clean energy. It also joined with John Lewis to give loans to 23 million customers in the UK.
Zopa keeps winning awards for its good work. Last year, it was named the Best Personal Loan Provider and the Best Credit Card Provider in the British Bank Awards. This shows that Zopa is not only growing—it is doing a great job for everyone.
