Advanzia Bank publishes its 2021 results

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The European digital bank reports continued growth and excellent financial results

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04/04/2022 |
  • AdvanziaBank-RolandLudwig

    Roland Ludwig, CEO of Advanzia Bank

Advanzia Bank, the European digital bank specialising in credit cards and payment solutions, reports another consecutive year of profitable growth on a strong underlying credit portfolio. The bank reported a gross loan balance of EUR 2.2 billion with 2.1 million cardholders and a net income of EUR 121 million.

“Advanzia Bank has stayed on course, showing uninterrupted growth despite the ongoing pandemic and reaching the ambitious milestones in our digitalisation programme. We have further diversified our funding base with a first asset-backed securities transaction and entered our sixth consumer market with the launch in Italy,” comments Roland Ludwig, CEO of Advanzia Bank.

“The now live cloud-based digital banking platform has harmonised the omni-channel experience, expediting the launch of digital solutions and services for our customers and paving the way for our ambitious product expansion roadmap.”

Continued strong performance across Europe

Germany remains the bank's largest market, with the rebrand of its Gebührenfrei product and the launch of a new app, website and customer portal optimising the product’s digital impact and harmonising the customer journey for cardholders. The bank's other established markets such as France and Austria continue to grow steadily and contribute to profitability, with the overall loan balance in all markets outperforming market growth.

Advanzia continued its European expansion with the launch of its no-fee Carta YOU in Italy in November 2021 – the first product to be launched from the digital core banking platform. Despite challenging conditions due to the pandemic, Spain continues to perform well and shows strong growth potential for the bank.

In the professional card services segment, Advanzia is now market leader as a card-as-a-service provider for private banks, servicing close to 100 financial institutions worldwide with turnkey card solutions.

Focus on digital transformation and mobile services

The strategic roadmap for 2022 focuses on Advanzia’s digital transformation programme, which includes the rollout of additional mobile services and products for customers and the development of a fully digital customer enrolment and onboarding platform. Advanzia will also further diversify its capital and liquidity position as a foundation for its future growth ambitions.

Download the Advanzia Bank 2021 Annual Report here.

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