Monzo’s definition of ‘friends’ must be ‘contacts in your phone’. I have 27 Monzo contacts, which include actual friends, businesses/sole traders I’ve dealt with, colleagues (including ex- ones) etc.
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You actually friends though? 
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I suspect it’s driven more by age! I seem to remember Monzo telling me I had nearly 100 friends on Monzo at one point
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7 whose contacts I have; or that are sharing contact details.
Loads more over Facebook.
I’m my friend and so is my wife.
Definitely age, I have 62 'contacts on Monzo, the majority of which are just people from when I was at uni circa 2018!
Hi @AlanDoe
A great report! I was wondering if you could help shed some light on something on the credit provisions front. A lot of the media is, “credit provisions soar” (and that this is bad…). But reading the report it seems like there is a positive if I’m understanding correctly.
In the CEO review, it says, “Despite the macroeconomic context, our realised losses, as a percentage of average lending balances, only increased marginally to 9.75% vs 7.58% last year, and ECL provisions were at 14.63% relative to 13.95% last year.”
Is this not a really good thing? Are we basically saying, “we put money aside expecting to lose 14.63% of money leant out, but actually we only lost 9.75%”?
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Now that Monzo is making a profit what’s the general consensus on Monzo moving towards an IPO?
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In this place?!
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Thanks for sharing that, much appreciated.
No.
I believe it means that Monzo lost 9.75% compared to 7.58% the previous year.
In addition, Monzo now estimate that 14.63% of borrowing will now have issues going forward vs their previous assumption of 13.95% (so they expect a higher % of borrowing to be problematic).
Of course, their estimate could be higher or lower then the actual losses they incur - and will be governed by many things including how good Monzo are at assessing risk and the wider cyclical economic picture
What would be the first new European country they launch in, after Ireland?
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