Atom Bank is forecasting its first annual profit for the financial year 2022
In Brief:
After announcing a £4.5m profit in its third quarter to December, Atom has now achieved three quarters in a row of profitability
Atom’s deposits grew 45% in Q3, reaching £5.5bn and achieving net interest income of £21.1.m
CEO Mark Mullen told The Times that Atom had “vanishingly small” bad debts on its books as it approaches the end of its financial year
What does this mean?
Even as Atom Bank approaches a full year of profitability, CEO Mark Mullen made it clear that a “liquidity event” was more likely in 2024 or 2025.
