Amsterdam, February 21, 2023 - bunq, the second largest neobank in the EU, reports a pre-tax profit of €2.3 million over the last quarter of 2022. The challenger’s first quarterly profit will fuel the fintech’s further growth and expansion, contributing to building the first global neobank for location-independent people and businesses.
In the last quarter of 2022, bunq’s net fee income grew by 37%, compared to the last quarter of 2021, and user deposits grew by 64%, to €1.8 billion at the end of 2022.
I’m incredibly proud that, just a decade since our inception, bunq’s service-oriented business model has proven to be profitable. Truly aligning our user-centered philosophy with financial success, we were able to build a business that’s only successful as long as our users are happy, says Ali Niknam, founder and CEO of bunq.
bunq reported break-even for the first time at the end of December 2021. Since then, the neobank has been on a steady path to profitability, continuously investing its operating profit in innovation, product development and international expansion.
Contact details
Related topics
Related news
bunq applies for US banking license
bunq, the second largest neobank in the EU, has filed an application for a US banking license with the FDIC in the state of New York. By applying for a bank charter, bunq brings its proven and user...
More than half of European Gen Z and millennials will cut back on holiday spending
Half of young adults in the Netherlands, Germany and France will save on dinners, and 43% will invite fewer guests.
bunq wins appeal against Dutch Central Bank (DNB)
bunq has won a landmark case against the Dutch Central Bank (DNB). Earlier this year the neobank took DNB to court over the use of modern technology in the fight against money laundering. Today's c...
Dutch tech entrepreneurs unite to provide aid for refugees
Amsterdam, February 28th 2022 - Three successful Dutch tech entrepreneurs have joined forces to aid those affected by the humanitarian crisis in Ukraine. Ali Niknam (bunq), Joris Beckers (Picnic) a...