In brief: N26 becomes profitable

The German neobank N26 signs in 2025 its first fully profitable exercise, exceeding EUR 500 million in turnover and confirming the rise in power of its pan-European digital banking model, while at the same time acting a slight shift from its initial trajectory towards profitability.

N26 just crossed a symbolic threshold. For the 2025 financial year, the 100 % digital bank announced a turnover of EUR 501.6 million and a net banking revenue of EUR 350.5 million, up 33 % over one year. Above all, the group finally had a positive consolidated net result of 1.6 million euros, more than 43 million euros better than in 2024. Ten years after the opening of its first accounts in Germany, N26 has completed its first full year of overall profitability.

This performance is based on a sharp drop in direct costs (–17% to €151.1 million) and on the rise in recurrent revenues. Net revenue from commissions and fees increased by 21% to EUR 184.2 million and now weighs more than half the gross margin, driven by the success of premium offers and the intensification of transactional activity.

Commercially, N26 consolidates its position as a main bank for an increasing part of its base: 5.6 million customers generate significant revenues, an increase of 16% in one year, while deposits exceed 10.5 billion euros and annual payment volumes reach 170.7 billion euros.

But this profitability comes with a slight delay on the initial schedule: N26 a monthly overall profitability in the second half of 2024It finally materializes only in a full year in 2025.

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