VS Series
Monzo v Lloyds
The app-only bank and the old high street giant. How do their accounts compare?
Lloyds Bank leads on turnover, pre-tax profit, profit margin and net assets; Monzo on growth. Lloyds Bank is the biggest by turnover at £34,528m, against £1,724m at Monzo. Lloyds Bank keeps more of every £100 it takes, £15.85 as pre-tax profit.
The year ends are close enough to compare like for like. Lloyds Bank files group accounts that include subsidiaries; Monzo files for a single company, which flatters the group on size.
Accounts compared: Monzo to Mar 2026 · Lloyds Bank to Dec 2025
Who they are
Monzo
Monzo Bank Limited · 09446231Monzo is a UK bank that runs entirely through a smartphone app, offering current accounts, savings, loans and business accounts.In brief: app-only bank · personal and business accounts · no branches · subscription plansFull profile →Lloyds Bank
Lloyds Bank PLC · 00002065Lloyds Bank is a UK high street bank, providing current accounts, savings, mortgages, credit cards, car finance and loans to households, and lending and banking services to businesses.In brief: high street bank · ring-fenced bank · includes Halifax and Bank of Scotland · owned by Lloyds Banking GroupFull profile →The Numbers
The leader on each measure is marked. Movements are against each company's own prior year. Pre-tax profit is filed except where marked (est.). For a bank, the turnover shown here is gross income: interest received plus fees and other income, before the interest it pays out to savers and lenders. Monzo's accounts call this Total Revenue, £1,724m; after £387m of interest paid out, fees paid and credit losses, its gross profit was £1,014m (accounts to 31 March 2026, p. 123). For a bank, the turnover shown here is gross income: interest received plus fees and other income, before the interest it pays out to savers and lenders. Its total income after that interest was £18,429m, and its group includes Bank of Scotland plc (the company behind Halifax), MBNA and Black Horse (accounts to 31 December 2025, pp. 1 and 171).
Category winners
Biggest by turnover
Lloyds Bank
£34,528m
Most pre-tax profit
Lloyds Bank
£5,472m
Highest profit margin
Lloyds Bank
15.8%
Fastest-growing turnover
Monzo
+39.2%
Biggest employer
Lloyds Bank
62,242 staff
Highest pay per head
Monzo
£88,000
Most turnover per head
Lloyds Bank
£555,000
Largest net assets
Lloyds Bank
£41,909m
Most cash
Lloyds Bank
£37,720m
The Takeaway
- Lloyds Bank converts the most of its turnover. Of every £100, £15.85 reaches pre-tax profit, against £7.67 at Monzo.
- Lloyds Bank is the largest on the top line, £34,528m of turnover, 20.0x Monzo's £1,724m.
- Monzo is growing fastest, turnover +39.2% on its own prior year.
- Lloyds Bank is the biggest employer with 62,242 people; Monzo pays the most per head, an average staff cost of about £88,000.
- Lloyds Bank has the largest balance sheet, net assets of £41,909m.
Who keeps the most of every £100 of sales?
Lloyds Bank keeps the most: £15.85 of every £100 of turnover becomes pre-tax profit. Monzo keeps the least, £7.67.
Every profit figure here is the one the company filed.
The chart splits each company's turnover into £100: what goes on people, on interest and on everything else, and what is left as profit.
Out of every £100 of turnover
Each column is £100 of that company's own turnover, so companies of any size compare on one scale; the figures are pounds out of each £100, not millions. Companies run from the best margin to the worst. Payroll is staff costs, other running costs are everything else, and profit is pre-tax profit, filed or estimated as marked in the table. A loss is not an extra cost: it is the part of the costs that runs past the £100 line, marked with a red bracket. Hover over any segment for its figure.
Who is the biggest, and does the comparison hold?
By turnover the order is Lloyds Bank (£34,528m), Monzo (£1,724m).
By headcount, Lloyds Bank leads with 62,242 employees.
The accounting periods all end within 3 months of each other. The bases differ: group accounts include the businesses a company owns, single-company accounts do not.
Turnover on the latest filing
Who is growing fastest?
Monzo grew fastest, turnover +39.2% on its own prior year, ahead of Lloyds Bank (+0.5%).
Turnover change on each company's own prior year
Who employs the most, who pays the most, and who brings in the most per head?
Lloyds Bank employs the most, 62,242 people, against 4,591 at Monzo.
Monzo has the highest average staff cost, about £88,000 a head; Lloyds Bank the lowest, about £72,000.
Lloyds Bank brings in the most turnover per employee, about £555,000, against £376,000 at Monzo. It says as much about the business model as the workforce: a marketplace or a wholesaler needs far fewer people per pound than a restaurant or a gym.
Who owns each one?
Ownership as recorded on the Companies House register of people with significant control, in the bands the register uses.
Held by Monzo Bank Holding Group Limited
A company recorded as a person with significant control in the 75% to 100% band. 2 outstanding charges on the register.
Who owns Monzo →
Lloyds Bank PLC · 00002065Held by Lloyds Banking Group Plc
A company recorded as a person with significant control. 34 outstanding charges on the register.
Who owns Lloyds Bank →
What does the full ledger show?
| Measure | Monzo | Lloyds Bank |
|---|---|---|
| Registered name | MONZO BANK LIMITED | LLOYDS BANK PLC |
| Company number | 09446231 | 00002065 |
| Incorporated | 2015 | 1865 |
| Accounts filed | 27 August 2026 | 19 March 2026 |
| Turnover, prior year | £1,239m | £34,343m |
| Pre-tax profit, prior year | £52m | £4,688m |
| Staff costs | £402m | £4,471m |
| Payroll share of turnover | 23.3% | 12.9% |
| Employees, prior year | 3,786 | 65,435 |
| Dividends paid | n/d | £2,390m |
| Charges outstanding | 2 | 34 |
A figure the filing does not disclose is shown as n/d; a zero in a filing is treated as not disclosed. Rounding: below £0.1m in thousands, £0.1m to £2m to one decimal place, above that to the nearest million.
Monzo v Lloyds: common questions
Who is the biggest of Monzo or Lloyds Bank?
Lloyds Bank, with turnover of £34,528m in the year to December 2025.
Which makes the most profit?
Lloyds Bank: £5,472m pre-tax in the year to December 2025.
Which employs the most people?
Lloyds Bank, with 62,242 employees in its latest accounts.
Monzo or Lloyds Bank: which is bigger?
Lloyds Bank, with turnover of £34,528m against £1,724m at Monzo on their latest filings. On margin, Lloyds Bank keeps more of each £100 as pre-tax profit. The full head to head is in the VS Series. Read the VS page →
Where do these figures come from?
Each company's latest accounts filed at Companies House. Each links to its full Spark Intel profile, which names the filing it comes from.
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