-- Black Banx today announced a record full-year 2024 profit before tax of USD 3.6 billion, surpassing its revised forecast of USD 3.2 billion and marking a significant increase from USD 2.4 billion originally projected for the year. For the fourth quarter of 2024, Black Banx posted a profit before tax of USD 1.3 billion, driven by strong revenue growth, increased client acquisition, and enhanced operational efficiency based on the implementation of artificial intelligence.
Financial Performance & Operational Highlights
The company achieved annual revenue of USD 11.1 billion, exceeding its initial forecast of USD 10.8 billion, driven by robust growth across key markets. Pre-tax profit for the first nine months of the year reached USD 3.6 billion, a significant increase from USD 2.3 billion in the same period last year, with Q4 2024 alone contributing USD 1.3 billion to pre-tax earnings. Operational efficiency saw marked improvement, reflected in a reduced cost/income ratio of 68%, attributed to disciplined cost management and strategic integration of artificial intelligence to streamline workflows. Customer acquisition accelerated throughout the year, surpassing 69 million global customers as of December 2024, while the organization’s workforce expanded to over 8,500 employees worldwide, underscoring its commitment to scaling operations sustainably.
Annual revenue: USD 11.1 billion (up from the previous forecast of USD 10.8 billion)
Pre-tax profit: USD 3.6 billion (compared to USD 2.3 billion for the first nine months)
Q4 2024 pre-tax profit: USD 1.3 billion
Cost/income ratio: Improved to 68%, reflecting disciplined cost management and implementation of artificial intelligence
Customer base: Expanded to 69 million customers as of December 2024
Workforce: Grew to over 8,500 employees globally
CEO Michael Gastauer commented: “2024 was a landmark year for Black Banx. We have not only exceeded our financial expectations but have also reinforced our position as a leader in digital banking. The sustained revenue momentum, combined with strategic investments in artificial intelligence, has yielded exceptional results. We remain committed to delivering shareholder value while continuing to innovate in financial services.”
CFO Daniel Dumitrascu added: “With USD 3.6 billion in pre-tax profit and a stronger-than-expected revenue performance, we are entering 2025 with a solid foundation. Our focus remains on expanding our market reach, improving cost efficiency, and increasing shareholder returns. Based on our financial strength, we aim to distribute USD 2.90 per share to our shareholders for 2024.”
Strategic Outlook for 2025
Building on its success, Black Banx aims to:
● Expand its customer base beyond 100 million users by year-end 2025
● Enhance its global payments infrastructure with new market entries
● Increase operational efficiencies to further reduce the cost/income ratio
● Strengthen its presence in key fintech markets and digital asset banking
About Black Banx:
Black Banx Group is a leading global fintech, serving over 65 million customers across 180+ countries. With a workforce of 8,500+ employees, the company offers innovative digital banking solutions to individuals, institutions, and businesses worldwide. Black Banx is committed to financial inclusion, security, and seamless digital transactions.
Contact Info:
Name: Chiara Accardi
Email: Send Email
Organization: Black Banx GroupHoldings Inc.
Website: https://blackbanx.com/
Release ID: 89152564
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