The number of new credit card customers grew by 200,000 to over 1.2 million in 2017, and the year-end loan balance grew by 31% to EUR 1,229 million, also the bank’s highest ever. The strong growth is reflected in the bank’s increased presence in Luxembourg: Advanzia has become an attractive employer in Luxembourg and ended 2017 with 152 employees in total.

Continued growth
Commenting on the 2017 results, CEO Roland Ludwig says, “2017 was a new record for us in terms of number of customers and credit card turnover. It is a clear testament to the success of Advanzia’s highly scalable business model that is based on direct online marketing as well as strong partnerships across Europe. Our lean, efficient operation enables us to accelerate our expansion and deliver sustained profitability.”

Advanzia is currently active in Germany, Luxembourg, France and Austria. Germany, the bank’s largest market, reached a gross loan balance of EUR 1.1 billion at the end of 2017. In France, the bank stepped up the pace in 2017 by purchasing a loan portfolio, significantly improving its position on this market. In Austria, where the market entry was in 2015, Advanzia has grown its loan volume rapidly and at the end of 2017 had a gross loan balance of approximately EUR 40 million.

During 2017, Advanzia also strengthened its Omnium business line by concluding more business partnership across Europe. Advanzia delivers turnkey credit card solutions to over 25 partner banks and 120 partner organisations, and plans to enlarge its partner network even further in 2018.

Positive outlook for 2018
With further expansion on the agenda, Advanzia is accelerating its marketing and sales activities, and will enter the Spanish market later this year. The bank will also launch the newly designed Advanzia App for the German market, strengthening its digital focus and enabling intensified customer interaction.

Advanzia is well on the way to its long-term strategic goals, as CEO Ludwig confirms: “I am confident we can achieve our ambition of becoming the best-in-class pan-European online bank specialised in credit card and consumer finance solutions.”