N26, the German fintech and high-profile digital bank, recently reported a wider loss and a deceleration in customer growth for last year. The bank’s 2021 losses climbed from 151 million euros to 172 million euros ($167.10 million). Though N26 added one million new customers in 2021, it was far less than the two million added the year before. In an effort to retrench, N26 will focus almost exclusively on its European operations – it shut down U.S. operations earlier this year.
German Online Bank N26’s Losses Widen in 2021 As Customer Growth Slows