By Aisling Finn on Tuesday 8 December 2020
Customer deposits jumped from €433m to €633m in the first six months of the year.
Dutch challenger bank bunq saw its customer deposits increase by nearly 50 per cent in the first six months of the year.
Deposits in bunq’s accounts topped €633m, up by €200m from the start of the year.
As a result of the jump in customer funds, bunq is now looking to open an office in Rotterdam in the near future, a step in the opposite direction to most other companies which are shutting-up shop left, right and centre.
bunq’s expansion to Rotterdam marks the second time the Amsterdam based bank has opened a new office in less than a year, after opening in Sofia in late 2019.
Wilbert Lek, managing director of Rotterdam Partners, which promotes initiatives benefiting the local economy, added: “Rotterdam is the perfect place for a tech company to flourish.”
“A cosmopolitan melting pot of local and international talent, Rotterdam offers enormous potential for both people and businesses. bunq is a very valuable addition to our city and we look forward to enabling people from the area to contribute to its goal of bringing innovation to the finance sector."
Earlier this year, speaking at the AltFi Festival of Finance, Niknam cemented his view on the importance of having an office, even in light of Covid-19: "It is somewhere where we get together, it’s somewhere where we share dinner, it’s somewhere where we share lunch, it’s somewhere where we share drinks, it’s where creativity flows.”