Memo Bank reports strong growth in 2024 and strengthens its position

The 2024 results confirm the strength of Memo Bank’s model and illustrate its solid commercial performance :

• Its Net Banking Income (NBI) reached €5.4 million, up 35% compared to 2023. In Q4 2024, the bank recorded an outstanding increase in its commercial performance: the annualized NBI based on December 2024 amounts to €7.4 million, representing a 44% increase compared to 2023.
• Its total assets stand at €332 million, more than double compared to 2023 (€146 million).
• Its client base now exceeds 500 businesses, representing a 70% growth over the year. Its Net Promoter Score (NPS) of 75, one of the highest in the commercial banking sector, is a testament to how its growth is coupled with strong client service

Since its creation, Memo Bank has been committed to providing finance departments with integrated, centralised and real-time transaction banking solutions and access to lending, while supporting them with a dedicated relationship manager.

• Standard and instant SEPA as well as Swift payment services experienced a strong acceleration with €5 billion in processed transactions, an increase of 150% compared to 2023.
• The Booster account, an instant savings account designed to optimize surplus cash, offers a daily return of 80% of the €STR, starting from the first euro. 63% of clients are using it, and €3 millions + in interests have been paid to them.
• Memo Bank’s multi-award-winning banking API, delivers end-to-end automation of payments and real-time reconciliation. Clients such as Lunettes Pour Tous, an optics retail chain,Iroko Zen, a real-estate investment company, or Goodflair, an insurance company, have integrated it into their payment infrastructure.
• The banking institution supports its clients in complex operations such as capital increases or the management and holding of funds on behalf of third parties. As such, Memo Bank has helped numerous asset management companies such as Sanso Longchamp AM or IQ-EQ (formerly Equitis).

Memo Bank continues its upward trajectory with a 7% improvement in its net result, which stands at -€6 million. This progression is based on sustained growth in NBI and rigorous management of operational costs, limiting their increase to 11%.

As a result of a controlled growth strategy, Memo Bank demonstrates its ability to deliver a strong performance, while maintaining an optimized cost structure. It aims to reach the break-even point during 2025.

In line with its conservative strategy, Memo Bank maintains a strong balance sheet, which now stands at €332 million, and prudential ratios well above Basel III requirements:

• Liquidity Coverage Ratio (LCR): 261% (vs. 147% for the average of major French banks in 2023).
• Net Stable Funding Ratio (NSFR): 236% (vs. 115% for the average of major French banks in 2023).
• Common Equity Tier 1 (CET1): 26% (vs. 15% for the average of major French banks in 2023).

The bank reaffirms its commitment not to invest its clients’ deposits in carbon-intensive financial instruments.

Memo Bank approaches 2025 with great ambition and plans to expand its offering with:

• The introduction of foreign currency accounts to support companies in their international needs.
• New automation functionalities, already the most advanced in the market.
• Additional anti-fraud solutions to deliver the utmost transaction security.

The audit of our 2024 financial statements is still underway. The figures mentioned in this document are subject to validation by KPMG, our independent auditor.

About Memo Bank
Launch in 2020, Memo Bank is an independent French bank accredited as a credit institution by the European Central Bank and regulated by the ACPR. Through its cutting-edge core banking platform, Memo Bank delivers an overhaul for SMEs, enabling them to manage their liquidity and transactions in both a centralised and integrated manner, while providing quick access to lending. Since its inception, Memo Bank has been taking actions to reduce its carbon footprint, as well as that of its clients, employees, and the entire banking market.

Press contact
Erika Chapelain, [email protected], +33 6 25 29 62 06