The German neobank N26 has signed its first quarter with profits by recording a net operating income of 2.8 million euros in the third quarter of the year, while it has planned to limit annual losses to 20 million, after having registered a negative result of 102.4 million in 2023 and 213.4 million in 2022.
The entity expects its income to increase by nearly 40% in 2024, reaching approximately 440 million euros, compared to the 313.5 million obtained last year, while this growth drive has been mainly organic through fundraising. of clients, as reported Europe Press.
Linked to this, they have stated that the average monthly registrations more than doubled (+110%) between fiscal year 2023 and October 2024, with more than 200,000 new monthly registrations currently.
N26 expects to reach 4.8 million customers “considered relevant in terms of revenue” by the end of 2024, compared to 4.2 million at the end of 2023; Likewise, it has announced that it foresees a “significant increase” in the number of clients throughout 2025.
In another section, he highlighted that he exceeded – for the first time – 10,000 million euros in customer deposits in the third quarter, while he predicts that the annual volume of customer transactions through the platform will increase by 23% in 2024, up to nearly 140,000 million euros.
On the other hand, the entity has in turn justified the results by having left behind the growth restriction by the German regulator Bafin last June.
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