Orange: new developments for Orange Bank
(CercleFinance.com) - Orange has announced that it has decided to accelerate the development of Orange Bank, with a 230 million euros capital increase, which will enable it to accelerate the growth projects set out in the bank's strategic plan.
Orange Bank expects to substantially reduce its losses in 2021 thanks to an increase in NBI, which is rose by 57% y-o-y in H1 2021, coupled with a drop in management costs, the telecoms operator said.
The bank will continue to invest in its platform to maintain its technological lead, with new activities built in partnership with fintechs. A call for tenders is underway for new insurance offers.
Orange has also reached an agreement with its partner Groupama to buy the latter's 21.7% stake, while preserving their commercial relationship. The finalisation of this transaction, the terms of which remains confidential, is subject to the usual approvals.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
Orange Bank expects to substantially reduce its losses in 2021 thanks to an increase in NBI, which is rose by 57% y-o-y in H1 2021, coupled with a drop in management costs, the telecoms operator said.
The bank will continue to invest in its platform to maintain its technological lead, with new activities built in partnership with fintechs. A call for tenders is underway for new insurance offers.
Orange has also reached an agreement with its partner Groupama to buy the latter's 21.7% stake, while preserving their commercial relationship. The finalisation of this transaction, the terms of which remains confidential, is subject to the usual approvals.
Copyright (c) 2021 CercleFinance.com. All rights reserved.