Strong Customer Growth
Active customers increased by 21% year-on-year, with personal customers growing by 22% and business customers by 11%. Word-of-mouth was a significant driver, with 70% of customer growth coming from this channel.
Substantial Increase in Customer Holdings
Customer holdings grew by 33% year-on-year to GBP21.5 billion, driven by a 55% increase in assets under management.
Revenue and Profit Growth
Underlying income grew by 16% to GBP1.4 billion, with underlying profit before tax increasing by 17% to GBP282 million.
Wise Platform Expansion
Wise Platform represented 4% of cross-border volume, with new partnerships including Raiffeisen Bank and Itau.
Efficient Cost Management
Cost of sales increased by only 5%, significantly lower than the underlying income growth of 16%, allowing gross profit margins to expand to 75%.