Starling bank trims losses as revenue skyrockets 600%

British digital bank Starling reported a sevenfold increase in revenue in the 16 months ending March 2021 as its lending soared, helping to cut losses in half.

Losses after tax totaled £23.3 million ($32 million) in the period, down from the £52.1 million Starling lost in its last annual accounts, which covered the 12 months up to Nov. 30.

Revenues, meanwhile, shot up 600% to £97.6 million from £14 million in its 2019 fiscal results.

Read more: CNBC