Black Banx Reports Significant Profit Growth in Q2 2024

Road Town, British Virgin Islands – Black Banx has announced a remarkable profit before tax of USD 761 million for the second quarter of 2024, contributing to a total profit of USD 1.4 billion for the first half of the year. This marks a substantial increase from the USD 149 million profit reported during the same period in 2023, highlighting the company's robust financial performance. The company’s total revenue also saw a notable rise, reaching USD 2.6 billion in the second quarter, up from USD 2.1 billion in the first quarter of 2024. Michael Gastauer, Group Chief Executive Officer, attributed this growth to a combination of strategic business expansion and disciplined cost management. He expressed confidence in the company’s trajectory towards achieving its 2025 goals and fulfilling distribution commitments to shareholders. Black Banx Group, which employs over 7,200 staff across four continents, serves more than 52 million customers as of June 2024. The firm specializes in providing digital banking solutions to a diverse clientele, including private individuals, institutional, and corporate clients worldwide. Its extensive reach spans over 180 countries, where it supports businesses in managing payments and investments. As Black Banx continues to enhance its operational efficiency, the company anticipates further cost savings, reinforcing its commitment to sustainable growth and shareholder value. The positive financial results underscore Black Banx's position as a leading player in the global digital banking sector.