Starling Group Profit Falls 3% to £217.1 Million as Revenue Drops Nearly 6%

1 articles · Updated · Bloomberg · May 21

£217.1 million in pretax profit marked a roughly 3% year-on-year decline for Starling Group in the year through March.
£887.4 million in revenue was down almost 6% from £940 million, as the UK neobank set aside more money for potentially troubled loans.
Those higher presumed credit losses weighed on earnings even as Starling remained profitable over the full year.
The results point to rising pressure on digital lenders' loan books as they build buffers against possible borrower stress.

Is Starling’s profit dip a sign of failure or a mark of a mature bank managing risk?

With UK profits falling, can selling software to US banks rescue Starling's growth story?