“British fintech Wise reports 280% jump in profit as higher interest rates boost income”
November 14, 2023
“…Wise reported revenue of £498.2 million, up 25% year-on-year, in the half-year ended on Sept. 30, 2023. Including interest income, the company’s total income stood at £656 million for the period, up 58% year-on-year. Before tax, company profit came in at £194.3 million, up 280% year-on-year…
Wise, which lets consumers move money across borders at considerably lower fees than do established banks, has a business that’s largely tied to the health of the consumer. U.K. retail spending grew 1.2% in October from last year, the lowest year-on-year growth since December 2022…”
https://www.cnbc.com/2023/11/14/british-fintech-wise-reports-234percent-jump-in-profit.html