News Archive 2024

Road Town, BVI: October 28, 2024: Black Banx announced a profit before tax of USD 892 million for the third quarter of 2024, or a combined profit of USD 2.3 billion for the first nine months of 2024. For the first nine months of 2024, profit before tax was USD 2.3 billion, compared to profit before tax of USD 158 million in the first nine months of 2023. The cost/income ratio was 70%, compared to a cost/income ratio of 89% in the prior year period. Results were positively impacted by the overall growth of new client acquisition and improved income by fixed monthly account maintenance fees for its 61 million customers. Combined business growth resulted in increased total revenue of USD 3.0 billion in the third quarter, 2.6 billion in the second quarter compared to USD 2.1 billion in the first quarter of 2024.

Road Town, BVI: July 29, 2024: Black Banx today announced profit before tax of USD 761 million for the second quarter of 2024, or USD 1.4 billion combined profit for the first six months of 2024. For the first six months of 2024, profit before tax was USD 1.4 billion, compared to profit before tax of USD 149 million in the first half of 2023. The cost/income ratio was 70%, compared to a cost/income ratio of 85% in the prior year period. Results were positively impacted by overall growth of new client acquisition and the implementation of fixed monthly account maintenance fees for its 52 million customers. Combined business growth resulted in increased total revenue of USD 2.6 billion in the second quarter compared to USD 2.1 billion in the first quarter of 2024.

Toronto, Canada; April 29, 2024: Black Banx today announced a first-quarter 2024 profit before tax of $639 million. Results were positively impacted by higher revenues of $1.6 billion generated by the implementation of fixed monthly account maintenance fees for its 45 million customers. Black Banx’s target ratios improved compared to 2023. The cost/income ratio improved to 69%, from 87% in the prior year.

Toronto, Ontario, January 28, 2024: In 2023, Black Banx Group generated a total of $2.3 billion in revenue and increased its annual pre-tax profit to $289 million. The 2023 results reflect a 109% year-on-year increase on revenue, 62% increase on pre-tax profit and a 95% increase of total number of customers to 39 million, over 2022. Black Banx Group announced its fourth quarter results covering the twelve months of 2023. Net revenues were $2.3 billion in 2023, up 109% year-on-year, and $798 million in the fourth quarter. In both the full year and fourth quarter of 2023, revenues were the highest since 2015.