REX: Consistent Growth for Advanzia Bank

The Luxembourg-based online bank Advanzia Bank, specialising in credit card issuing activities and payment solutions, just released their results for 2018.

Their revenue increased by 27% compared to 2017, reaching €2.93Bn, which also confirms strong growth two years in a row, with €75M in benefit before tax.
Their outstanding credit end-2018 had increased by 21.5%, to reach €1.5Bn.
Across their markets (Germany, France, Austria, and Spain since March this year, Advanzia’s customer base kept making progress: they reported 290,000 new users for 2018.
- In France, their growth is supported by the full integration of My Money Bank loan portfolio and overall gross outstanding loan of over €100M in 2018.
- Progress was also observed in Austria where their number of cardholders increased by nearly 60%.
- With 1.3M customers out of their 1.4M credit cardholders in Europe, Germany remains their largest and most profitable market.

KEY FIGURES

163 employees

300 call centre agents operating in 4 languages

Revenue: €2.9Bn

Outstanding loan: €1.5Bn

Boost their expertise in credit card solutions for private banks in Europe, after closing the acquisition of Sweden-based Catella Bank’s credit card portfolio.
Boost their international presence. Advanzia now assists 85 banks in 13 countries; 2019 will see their first steps in Spain with the Tarjeta YOU card offer.

In order to strengthen their position on the credit card market, last December Advanzia acquired Catella Bank’s credit card issuing business in Luxembourg .
For 2019, they expect their business to make further progress as their bet on their purchase of Catella and rollout of Tarjeta YOU. This considered, Advanzia keeps focusing on improving customer experience and plans to launch their mobile app in Germany, too.

Category : Alertes quotidiennes