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N26's Revenue Growth and Losses
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N26, a German neobank, anticipates a 30% revenue increase in 2023 but expects a sharp rise in net losses due to regulatory compliance spending. The company's net losses accelerated in 2022, reaching €213.4m, while revenues grew by 24% to €236.3m. N26 has been battling regulatory restrictions imposed by BaFin, resulting in a refocus on continental European markets after exiting the UK and US. The company aims to halve its losses to €100m by the end of 2023 and become profitable on a monthly basis in the second half of 2024.
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How might N26's refocus on continental European markets affect its global market share and competitive landscape?
How might N26's regulatory compliance spending impact its competitive position in the market?
What strategies could N26 employ to overcome regulatory restrictions and expand its operations in the long term?
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