Starling Group Reports Fourth Consecutive Year of Profitability Amid Global Expansion and Technological Innovation
Starling Group has announced its fourth consecutive year of profitability, demonstrating sustained growth across revenue, customer accounts, and deposits. In its latest financial results for the year ending 31 March 2025, the Group reported strong commercial performance and continued investment in innovation and international expansion.
Key Highlights
- Group revenue increased by 5% to £714 million
- Customer deposits reached a record £12.1 billion
- Customer account numbers rose 10% to 4.6 million
While the Group’s statutory profit before tax fell to £223 million—down from £301 million the previous year—this was primarily due to a regulatory fine issued in October, provisions related to government loan guarantees from the Covid era, and increased investment in risk management and control frameworks. Despite this, Starling’s underlying profit before tax stood at £281 million.
“This performance derives from our unwavering commitment to providing customers with innovative banking solutions and exceptional service. We’re well positioned for further growth and will continue to invest in our people, with around a thousand new hires planned across technology and other strategic areas in the coming three years.”
Starling’s Cardiff office continues to play a pivotal role in the bank’s operations, serving as a strategic hub for customer service and technology functions. The Cardiff team is central to Starling’s growth ambitions, reflecting the bank’s strong commitment to Wales.
Founded by Welsh-born Anne Boden, Starling Bank has always maintained close ties with its Welsh roots. Its expansion and impact across the UK and beyond continue to demonstrate the strength and innovation emerging from Wales’ fintech ecosystem.
One of the standout achievements of the year was the global progress made by Engine by Starling—Starling’s Software-as-a-Service (SaaS) platform. Engine enabled the successful launch of Salt Bank in Romania and AMP Bank in Australia, marking significant milestones in the Group’s ambitions to serve a global addressable market of approximately £100 billion.
“The Group generated an underlying profit before tax of £281 million. Our revised capital requirements were communicated in April, taking our total surplus capital to more than £400 million in excess of our regulatory buffers; a 40% increase on last year. In the coming months, we’ll be deploying this capital across Starling Bank, Engine and other international ventures to fuel our growth.”
Innovation also remained at the heart of Starling’s customer service strategy. New initiatives such as Call Status Indicators and the Safe Phrases awareness campaign have led to a 73% reduction in impersonation scams. Furthermore, the bank introduced its Easy Saver account, which has already attracted £1.5 billion in deposits across 191,000 open accounts.
Artificial intelligence continues to enhance operational efficiency and customer experience, with AI applications helping save 8,000 hours per month, halving specialist team referrals, and reducing call wait times by 60%.
With over 4.6 million customer accounts and £21 billion in card spend during the year, Starling Group continues to cement its position as a leader in digital banking—both in the UK and on the international stage.