Coinbase partner ClearBank posts first full year of profit as revenue almost doubles
Publishing timestamp: 2024-04-04 09:37:11
Summary
ClearBank, a British fintech firm, reported its first full year of profit in 2023, with a pretax profit of 18.4 million. The company saw a 91% increase in total income, driven by higher interest rates and a spike in deposits. ClearBank is pursuing a European Union banking license and expects to obtain it later this year. The firm provides banking services to companies like Coinbase, Tide, and others, and is not in a rush to go public, focusing on expanding to the U.S. market first. Brexit has posed challenges for ClearBank in obtaining a banking license in the EU.
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Keywords: cab payments holdings plc, coinbase global inc, earnings, banks, fintech, technology, breaking news: technology, ceo, business news,
Source: https://www.cnbc.com/2024/04/04/coinbase-partner-clearbank-posts-first-full-year-of-profit.html