Boursorama starts 2022 under the best auspices
Boursorama Banque has just published its annual results. The beginning of 2022 is marked by the continued growth of the Société Générale subsidiary. It is benefiting from a favorable context in France, following the announcement of the takeover of ING in France, which led to a deportation of part of its customer base.
Facts
- Boursorama Banque is starting 2022 with a new acceleration in its growth. The Société Générale subsidiary has just announced that it has attracted 800,000 new customers over the past year, for a total portfolio of 3.3 million customers, an increase of 37% over the past year and a portfolio that has doubled in three years.
- This growth is taking place mainly in the regions, since nearly 70% of Boursorama Banque’s new customers now live in the regions.
- Boursorama Banque recorded more than 2.7 million products subscribed in 2021, enabling it to establish itself as a main bank for a growing share of its customers.
- 2,700 in average monthly flows into its current accounts.
- Key figures for other banking products at the end of 2021 :
- 12.4 billion in outstanding home loans and 1.2 billion in consumer loans,
- 21 billion in deposits (current accounts, regulated savings, CSL),
- 7 billion in life insurance assets at the end of 2021 and nearly 10,000 members of its new Malta retirement offer,
- more than 130,000 new securities accounts and 9 billion euros in stock market assets,
- nearly 500,000 transactions with more than 70 partners in its Corner.
Issues
- Confirming its position as the French 100% online leader: Boursorama Banque is riding on a strong momentum that should lead it to reach 4 million customers by 2023. Faced with Hello Bank! , Monabank, Fortuneo or BforBankBoursorama Banque is the undisputed leader in terms of customer acquisition. And its absorption of part of ING France’s customers should further widen the gap.
- A bank adapted to the needs of young people: Nearly 60% of Boursorama Banque’s new customers in 2021 will be under the age of 30. The average age of its customers has risen to 35, compared with 36 in 2020. By the end of 2021, 1 in 9 French people in their thirties will be Boursorama Banque customers.
Putting it into perspective
- Societe Generale is one of the French banks most invested in the Russian market (notably via its subsidiary Rosbank). The new geopolitical context is therefore largely to its disadvantage; the French bank has seen its stock market value fall by almost 10% since the beginning of the conflict.
- Boursorama Banque’s growth prospects are therefore more welcome than ever for the group as a whole. Freshly reorganized, in particular through its merger with Crédit du Nord, Société Générale is relying heavily on its digital transformation and on future technologies to renew itself. The rise of its online bank is part of this strategy.
