Internet bank Bunq announced an additional capital injection of 29 million euros and will achieve a net profit of 53 million euros in 2023 through increased interest income.
Following the announcement, the financial institution’s shareholders committed to invest 29 million euros to accelerate the development of Internet bank Bunq, while focusing on meeting the capital requirements of the Dutch Central Bank and increasing share capital.
Financial institutions are expected to leverage investments to meet the evolving needs, preferences and requirements of their customers, while prioritizing the process of maintaining compliance with industry regulatory requirements and laws.
More information about the announcement
Internet Bank Bunq was developed to offer businesses, customers and partners the possibility to access and benefit from simplified finances, as well as full control and transparency over the solutions they use. The financial institution offers its expertise and full suite of services to improve customers’ overall banking experience and accelerate their journey in a safe and efficient manner.
According to rtlnieuws, Internet bank Bunq is expected to focus on further development in the UK and the United States. At the same time, the financial institution plans to resubmit its recently withdrawn banking license application to the U.S. regulator OCC. The move comes as Bunq considers alternative legal forms to begin operating in the United States.
Internet bank Bunq also experienced rapid growth and development in 2023, with customer assets growing from 1.8 billion euros to more than 6.9 billion euros. The financial institution also posted a net profit last year, mainly due to higher interest income from Bunq. According to the same source, these revenues will triple in 2023, from more than 41 million euros to more than 127 million euros.