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Bunq forecasts full profitability for 2023

Source: bunq

bunq, the second largest neobank in the EU, has today published its annual report for 2022.

Highlights from bunq’s Financial Statements 2022:

bunq, the second largest neobank in the EU, outperformed itself in most key metrics and reached the pivotal milestone of profitability. In an industry where many struggle to turn a profit, bunq hit a full profitable quarter at the end of 2022 and is confident in forecasting profitability for the entire 2023.
bunq’s revenue (gross fee income and gross interest income) more than doubled in 2022 (from EUR41.8 million in 2021 to EUR85.2 million in 2022).
Only 7 years after launch, bunq has earned the trust of a growing and extremely active community of digital nomads who choose bunq as their primary savings and day-to-day expenses bank. This community has spent a whopping EUR 90.5 billion throughout 2022, placing second among European neobanks with reported transaction volume. The average number of monthly transactions (24.6 million) as well as 2022’s total number of transactions (295.2 million) increased by 27% compared to the previous year.
bunq’s customer deposits grew by 60% (from EUR 1.1 billion to EUR 1.78 billion) per year-end 2022. Gross user fee income grew by 39% (from EUR 32.7 million to EUR 45.4 million), showing bunq’s strong and consistent user base growth throughout 2022.
Putting its users first, throughout 2022 bunq has always immediately reacted to the European Central Bank’s interest rate hikes and saw its interest income more than quadruple in comparison to 2021, reaching EUR 39.8 million per year-end 2022. bunq expects a significant increase in net interest income in the upcoming years.bunq forecasts profitability for the entire 2023

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