bunq first EU neobank to report a quarterly profit

The second largest neobank in the EU reaches structural profitability

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. 

About bunq

bunq, Europe’s second-largest neobank, has rebuilt banking from the ground up. As the world’s first GenAI-powered bank, bunq’s proprietary AI powers every part of the business, from helping users with their finances, to being baked into bunq’s own operations. By developing a product rooted in its users’ wants and needs, bunq makes life easy for location-independent people and businesses, starting from the way they manage money: how they spend, save, budget and invest.


Pioneering many things considered impossible, bunq was the first bank to get a greenfield European banking permit in over 35 years, raised the largest series A round ever secured by a European fintech (€193 million), and was the first EU neobank to achieve structural profitability. As part of its mission to build the first global neobank, bunq has also received its US broker-dealer license and applied for its US and Mexican banking license, with more global expansion to follow. Learn more: www.bunq.com

Contact details

Related topics

Receive exclusive news

Are you a journalist or do you work for a publication?
Sign up and request access to exclusive news.

Request access

Receive bunq news on your RSS reader.

Or subscribe through Atom URL manually