Starling Bank said the higher interest rate environment over the past year helped it post its third annual profit.
Around 4.2 million customers have signed up to the mobile-online challenger bank boosting pre-tax profits to £301.1 million in the year to April, a near 55% jump compared to 2023.
During the period sales rose by 50% to £682 million as the deposits rose 4% to £11 billion.
Gross lending fell a little to £4.7 billion, as the bank continued to move away from its role in the government's Covid business recovery program.
David Sproul, chairman at Starling believes the 'neobank' is now “an established part of the UK banking scene”.
Incoming CEO Raman Bhatia is expected to start his job later this month after leaving Ovo Energy.