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  • Players’ Strategy
  • France
  • Côte d'Ivoire
  • Spain
  • Afrique

Feedback: Orange Bank continues on an uncertain trajectory


  • The Orange Group presented the results of its global activity for the year 2020, taking the opportunity to review the results of its financial services subsidiary.
  • Although Orange Bank is still struggling in Europe, the operator says it wants to continue to invest in this subsidiary, whose synergies with the parent company are very strong.
  • Its results show that Orange Bank further increased its operating losses by 5% to -195 million euros.
  • Launched nearly three years ago, Orange Bank has thus accumulated €643 million in losses, which were financed by successive capital increases of €420 million, most of which were taken over by Orange, which is now much more financially involved than Groupama (which initially held 65% of the bank's capital, compared to 22% today).
  • At the same time, the total number of Orange Bank customers has risen sharply (1.5 million customers, compared with 500,000 at the beginning of 2020). However, these figures should be taken with caution, given their distribution:
    • 650,000 bank customers in Europe (France, Spain and Romania)
    • 350,000 bank customers in Africa
    • 530,000 Orange Courtage customers (i.e. the smartphone insurance offer acquired with its customers in March 2020)
  • In total, the gross gain in customers over the year thus appears to be 135,000 customers in France and 70,000 customers in Spain.
  • In addition, Net Banking Income rose sharply over the year (+72% to €69 million) and the Group continued to provide its customers with credit:
    • €802 million in consumer credit production
    • €869 million in mortgage loans.


  • Expensive investments abroad: the group attributes these losses above all to the launch of its service in Spain and Africa, as losses in the French market alone have been reduced by 25% in two years.
  • And a structural effect: the fact remains that its specific model has suffered from the health crisis, probably more than other brands. Indeed, Orange outlets have had to close their doors several times during the year 2020, even though it is the bank's main channel for opening accounts. It has therefore not benefited from the digital boom experienced by other neo-banks. Conversely, other such as Nickel, have benefited from the permanent opening of tobacco shops despite the crisis.
  • Revised objectives for 2023: as a result, Orange Bank says it plans to be profitable in 2023 and no longer in 2021. At that date, it hopes to have 5 M customers in Europe for €400 M of NBI and 10 M customers in Africa for €100 M of NBI.


  • The bank has continued its development recently with the acquisition of Anytime, a neo-bank dedicated to the needs of professionals, which illustrates the high hopes that the Orange group places in its banking subsidiary, given the synergies between the two.
  • Orange Bank Africa, for its part, has recorded a good trajectory: launched at the end of July 2020 in Côte d'Ivoire, it already has more than 350,000 customers, more than half of whom have taken out a loan.