Black Banx reports first nine months of 2024 profit before tax USD 2.3 billion

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.