Engaged in a race for size, Boursorama Banque achieved the best year in its history in 2022 and achieved its acquisition objectives three years ahead of schedule. Next step: exceed the milestone of 5 million customers this year.
A million and a half new customers in one year, who says better? No bank, no doubt, apart from Boursorama. As it does every year – it is also the only one to display this transparency – the online bank has just unveiled a very complete overview of its activity in 2022. “A historic year”, according to its managing director, Benoit Grisoni: never, indeed, Boursorama Banque had known such a development of its clientele over a calendar year. The last quarter of 2022 is also the best in its historywith 396,000 new customers.
Since 2019, its customer base has quite simply multiplied by more than 2, going from 2.1 million at the end of 2019 to 4.7 million today. In doing so, Boursorama has already exceeded, three years in advance, the objective it set itself two years ago: to reach 4.5 million customers in 2025. It now hopes to reach 5.5 million this year. On this criterion, Boursorama Banque today plays in the same league as a traditional banking network such as CIC.
Return to profitability scheduled for next year
It has been almost 6 years since 2017 that the Société Générale subsidiary has set foot on the accelerator, opting for a rapid growth strategy. A profitable, but costly strategy: to achieve this, it had to give up profitability, in particular multiplying marketing expenses (opening bonuses, large-scale advertising campaigns, etc.). However, she announced that she wanted return to profit from 2024by activating two levers.
The first: to lower its acquisition costs, that is to say what it spends to capture each customer. In 2022, this cost has already fallen by 20%, according to the press release released today. Boursorama Banque notably pulled off a nice coup by signing a partnership with ING, which closed its online bank in France in 2022. This enabled it to recover, at a lower cost, 315,000 customers of its former competitor, i.e. two thirds of the customers eligible for the transfer.
Second lever: improve customer engagement. To achieve this, Boursorama has increased new product launches last year, especially investment solutions (Boursomarkets, management profiled on PEA, private equity). Objective: to have a full range of banking products and services, and thus encourage its customers to make Boursorama their main bank. This is already the case for half of them.
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