Anne Boden: Starling’s return on equity will be 30%
The ambitious target comes off the back of a year in which the company has recorded its first annual profit.
Speaking to the Financial Times, Boden said Starling’s low-cost base puts it ahead of other larger banks in terms of its operational efficiency.
Boden, who founded the neobank in 2014, also dismissed concerns over an imminent recession’s effect on Starling's loan book as well as reaffirmed the bank’s ambition to be publicly listed next year but also said “I’m in no hurry.”
London, too, she confirmed would be the default option for Syarling's IPO but that a US listing on the Nasdaq was an option too.
It’s seen its deposit base swell 55 per cent, now up to £9bn, from £5.8bn in 2021.Its overall volume of lending also rose substantially during the period, up 45 per cent to £3.3bn.