Fintech

Bunq hits profitability with Ireland as its fastest-growing market

Dutch neobank, which owns Irish specialist lender Capitalflow, is now the second most profitable online bank in Europe after Starling

Founded in 2012 by Ali Niknam, Bunq is fully licensed across the EU and is currently awaiting a banking permit in the US

Ireland is currently the fastest-growing market for Bunq, the online bank, said on Tuesday as it announced a €53.1 million profit for 2023

The Dutch neobank which owns Irish specialist lender Capitalflow, hit profitability for the first time last year, making it the second most profitable European online bank after Starling.

Jack Daly, Ireland country manager for Bunq, said it had seen a tenfold increase in Irish user sign-ups last year while deposits grew by ...