Trade Republic Bank GmbH, based in Berlin, released its latest consolidated financial statements. The accounts received an unqualified audit opinion from BDO AG, marking the firm’s first full year operating under a full banking license, according to Unternehmensregister.de.

Following the release of its audited statements, the firm reported a sharp rise in profit. The Group’s annual surplus reached €34.8 million, up from €14.1 million the previous year. Commission income remained the main revenue source at €315.6 million, while interest income increased to €22.9 million amid higher rates.

Assets Surge as Profit Doubles Firm

The statements cover the fiscal year from October 2023 to September 2024. Total assets rose to €36.6 billion, more than four times the prior year, driven largely by client fiduciary assets, which reached €35.8 billion. Excluding these, the adjusted balance sheet total stood at €811 million. Growth followed rapid customer expansion and the launch of interest-bearing cash accounts.

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Company Plans Expansion Across Europe Next Year

Equity increased to €566.5 million from €531.7 million. Regulatory capital and liquidity remained comfortably above minimum requirements, keeping the firm’s financial position stable.

The ECB granted the bank a full banking license in December 2023, enabling expansion of its product range. During the year, the firm launched the Trade Republic Card, began passing ECB rates to clients on uninvested cash, and added bonds to its investment offering. The average number of employees rose to 605.

Management confirmed the company remains a going concern. For the next fiscal year, it plans “further international expansion”, including France and Italy, along with additional banking product rollouts.