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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.
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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.
Share this release
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.
Share this release
About bunq
bunq, Europe’s second-largest neobank, has built the first user-centric bank. 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. As the world’s first GenAI-powered bank, bunq offers its users safe, secure and simple 24/7 financial support—user-centricity at scale. 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 Mexican banking license, with more global expansion to follow. Learn more: www.bunq.com
About bunq
bunq, Europe’s second-largest neobank, has built the first user-centric bank. 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. As the world’s first GenAI-powered bank, bunq offers its users safe, secure and simple 24/7 financial support—user-centricity at scale. 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 Mexican banking license, with more global expansion to follow. Learn more: www.bunq.com
About bunq
bunq, Europe’s second-largest neobank, has built the first user-centric bank. 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. As the world’s first GenAI-powered bank, bunq offers its users safe, secure and simple 24/7 financial support—user-centricity at scale. 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 Mexican banking license, with more global expansion to follow. Learn more: www.bunq.com
Press contact
Journalists can reach the bunq press team at press@bunq.com. Are you a bunq user? Get help in the app or at help.bunq.com.
Press contact
Journalists can reach the bunq press team at press@bunq.com. Are you a bunq user? Get help in the app or at help.bunq.com.
Press contact
Journalists can reach the bunq press team at press@bunq.com. Are you a bunq user? Get help in the app or at help.bunq.com.
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