Boursorama Banque, the French leader in online banking, has just exceeded 4 million customers with more than a year ahead of its market table. Back to the reasons for this unbridled growth.
At the end of 2020, Boursorama Banque had given an appointment for the second half of 2023. It was finally more than a year in advance that it passed the milestone of 4 million customersannounced this Tuesday the online bank in a press release.
In the first half of 2022, the Société Générale subsidiary managed to maintain a impressive rate of conquest: more than 100,000 new customers per month. She probably helped you in this bypartnership agreement signed with its former competitor, ING. Formalized in April, it allows customers of the Dutch bank, which has decided to leave the French market, to facilitate the transfer of their accounts to Boursorama.
The leader in online banking, which currently offers a welcome bonus of up to 130 euros, also believes that it has been helped by the economic context, marked by high inflation. Boursorama is committed to simplifying the bank, giving purchasing power back to its customers and giving everyone the power to act on their money, explains Benot Grisoni, its managing director. It is no doubt for these reasons that nearly 400,000 new customers joined us in the first quarter of this year. Boursorama is indeed at the top, tied with Fortuneo, in our price lists.
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13 years for the first million, less than a year for the 4th
Created in 2004, Boursorama had waited 13 years to reach its first million customers, at the end of January 2017. Since then, everything has accelerated: 2 million in September 2019, 3 million in August 2021 and therefore 4 million in July 2022.
With such a goodwill, Boursorama Banque is evolving more than ever in a separate sphere. With the termination of ING’s retail banking activity in France, it is the only one, among historical online banks, to exceed one million customers. Only the N26 (2.5 million) and Revolut (1.5 million) nobanks, and payment accounts like Nickel (2.5 million) or Lydia (2 million) manage to follow, but at a distance, its pace of conquest.
Boursorama is now playing in the courtyard of the national gate bank brands and well-established, such as CIC (4.34 million individual customers at the end of 2021) or LCL (6 million at the end of 2021).
It now remains to achieve profitability. Because this crazy growth is accompanied by heavy acquisition costswhich now accounts for 40% of the company’s expenses and prevents it, in the immediate future, from earning money. Going green, with double-digit profitability, is promised for 2024.
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