Dutch challenger bank bunq has reported its first full year of profit, a welcome cash cushion as the company plans its UK relaunch. Bunq, which is Europe’s second largest neobank, said it made €53.1mn in net profit in 2023, a dramatic jump from the €16.5mn loss it incurred the year previous. Riding this momentum, bunq has now submitted its application for an E-Money Institution (EMI) licence in the UK, three years since Brexit invalidated the one it had. “The UK is home to the second-highest number of digital nomads globally, so naturally, we want to be there,” said bunq founder…
This story continues at The Next Web
https://thenextweb.com/news/dutch-neobank-bunq-uk-expansion-brexit
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Jan 30, 2024, 12:30:05 PM
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