Credit card turnover has increased by 27%, and now stands at EUR 2.93 billion, with a profit before tax of EUR 75 million. This follows a year of both substantial organic growth in its key markets Germany, France and Austria, but also the entry into the Spanish market.

In 2018, Advanzia continued to expand its customer base in all markets, adding a record number of 290 000 new credit card users, with over 1.4 million Advanzia cardholders throughout Europe. The year-end (gross) loan balance increased by 21.5% to EUR 1.5 billion. With the strong presence in five of Europe’s top financial markets, Advanzia’s workforce continues to grow steadily, ending 2018 with 163 employees and nearly 300 call centre agents serving four languages.

Germany remains the Bank’s largest and most profitable market, with a gross loan balance of EUR 1.3 billion and 1.3 million cardholders. The Bank’s growth in France was accelerated by the full integration of the My Money Bank loan portfolio, with the total gross balance in 2018 exceeding EUR 100 million. The Bank’s presence in Austria also grew strongly in 2018 thanks to new partnerships and marketing campaigns, with a near 60% increase in cardholders.

Roland Ludwig, CEO of Advanzia, comments: “2018 has been a year of both consolidation and transformation at Advanzia. The figures speak for themselves in terms of our financial performance, but growth such as this comes through both an accelerated expansion strategy and prudent risk management. The acquisition of Catella Bank’s credit card portfolio significantly strengthens our position as a trusted partner for financial institutions, while our successful launch in Spain with Tarjeta YOU shows that our pan-European ambition is becoming reality. We also continue to explore ways in which technology can make us more efficient and convenient, with the launch of our mobile app in Germany being a key milestone.”

Advanzia anticipates further growth in 2019, particularly as the acquisition of the Catella issuing credit card portfolio and Tarjeta YOU rollout bear fruit. Additional features of the mobile app will be implemented in 2019, maintaining the Bank’s focus on enhancing customer experience via new digital platforms. Roland Ludwig concludes: “Advanzia is well-positioned to enjoy another successful year in 2019, and this is thanks to both the strength of our business strategy and the popularity of our free and easy to use credit card model with consumers.”