BNP Paribas’ results for the first quarter of 2024 show that Hello Bank! accelerates the acquisition of new customers, benefiting in particular from first arrivals from Orange Bank. The Nickel account also continues to grow, targeting 5.5 million customers in Europe. Both services recorded better performance than in the first quarter of 2023.
BNP Paribas presented its balance sheet for the first quarter of 2024 this week: 12.48 billion euros in revenue, a decrease of 0.4% compared to the same period in 2023. Stable results, according to the press release, driven by very solid commercial performance within each operational division.
The start of the integration of Orange Bank customers
The online banking brand Hello Bank! accelerate its acquisition with the arrival of around 65,000 new customers. A number increasing by 32% compared to the first quarter of 2023. This capture of new customers was reinforced by the start of the integration of Orange Bank customers, explains the press release.
The agreement signed between the two establishments was, in fact, beneficial, since the increase over this quarter is greater than that observed for the whole of 2023. Hello Bank! then recorded a net increase of 53,000 accounts.
Orange Bank has nearly 400,000 customers with a bank account. We obviously hope to welcome as many as possible, indicated MoneyVox Chlo Goldstein, director of marketing and business development at Hello Bank!, in February.
3.8 million Nickel accounts opened in Europe
Concerning Nickel, the press release discusses the new pricing and the deployment of new financial services including a home insurance offer for tenants in partnership with BNP Paribas Cardif and Lemonade.
The price of the Nickel account increases by 25%, a first in 10 years
Nickel continues to develop its business and its customer base. Around 3.8 million accounts were opened in 5 European countries (France, Portugal, Spain, Belgium and Germany) as of March 31, 2024. Compared to the first quarter of 2023, the increase amounts to 21.4%. Note that in 2023, Nickel had just over 3.5 million accounts opened in France, around 620,000 more than a year earlier.
By 2025, the service aims to become the leading current account distribution network in Europe, with a target of 5.5 million accounts opened. As of March 31, there were 10,800 points of sale there.