SoFi Stock: Bank License To Boost Revenue

Morgan Stanley analyst Betsy Graseck said in her note to clients that the comptroller's approval requires Sofi to provide the bank with $750 million in capital.

"Once up and running, we estimate that the bank can deliver about $200 million or 10%-plus pickup in revenue via a combination of holding loans longer before being sold as well as lower cost of funds, both expanding SoFi's net interest income," Graseck said.

$SoFi Technologies(SOFI.US)$ acquired fintech platform Galileo Technologies in 2020. It provides card issuer processing services for some neobanks, including Chime.

Meanwhile, $SoFi Technologies(SOFI.US)$ holds a Relative Strength Rating of 15 out of a best-possible 99.