Dutch neobank bunq eyes UK expansion, 3 years after Brexit ousting
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…