Brokerage group Trade Republic made a €14.1m profit in its 2023 financial year.
Company founder Christian Hecker had previously told the Financial Times that the broker had done a “solid double-digit million euro amount” in profit for the year ending at the close of September 2023.
However, TradeInformer understands the total amount was that €14.1m figure.
Over the same 12 month period, the company made just north of €190m in combined revenues from trading commissions and interest income.
As you’d expect, the large majority of that – €179.9m – came from trading commissions, with €10.2m in interest income.
TradeInformer was unable to confirm the figures for 2024 but the broker has said previously that it maintained its profitability in both the 2024 calendar and fiscal year.
Can Trade Republic keep going?
Trade Republic has been one of Europe’s big ‘fintech’ success stories of the last decade, with huge growth since its founding in 2015.
The company announced in January that it now manages over €100bn in client assets, more than double the €35bn it had a year earlier. Notably this is more than double the amount Revolut has on its platform.
The broker also doubled its client base in 2024, growing it from approximately 4m to over 8m.
Another feature of that was expansion abroad. Historically the company had onboarded most of its clients in Germany.
However, the announcement in January noted that a third of its total client base was outside of its home market.
The company has branched out into banking and payments products over the last couple of years as well.
