LISBON, Portugal — British online lender Zopa is on track to double profits and increase annual revenue by more than a third this year amid bumper demand for its banking services, the company's CEO told CNBC.
Zopa posted revenues of £222 million ($281.7 million) in 2023 and is expecting to cross the £300 million revenue milestone this year — that would mark a 35% annual jump.
The firm also says it is on track to increase pre-tax profits twofold in 2024, after hitting £15.8 million last year.
In 2024, we've hit or exceeded the plans across all metrics," CEO Jaidev Janardana told CNBC in an interview Wednesday.
He said the strong performance is coming off the back of gradually improving sentiment in the U.K. economy, where Zopa operates exclusively.
Persons:
Zopa, we've, Jaidev Janardana
Organizations:
CNBC, Zopa
Locations:
LISBON, Portugal, British, U.K