Overview

• Pre-tax profit fell 26% to £223m in 2024, down from £301m a year earlier.
• The results mark Starling’s fourth consecutive year of profitability since its launch in 2014.
• Profit was weighed down by a £29m fine for weak financial crime controls and a £28.2m provision for Covid-era bounceback loans.
• Operating expenses climbed to £403m as staff costs surged 31.8% to £303.7m following a headcount increase of 708.
• Revenue rose to £714m, customer deposits topped £12.1bn and open accounts hit 4.6m, while the Engine platform onboarded Salt Bank and AMP Bank.