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What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Friday, February 19, 2021

Financial Services Push Pays off for Orange


Orange's revenues fell 0.2% in the fourth quarter of 2020 to 10.9 billion euros on a comparable basis. Across the year, revenues were up 0.3% to 42.3 billion euros, driven by a 5.2% increase in Africa & Middle East, which saw strong demand for 4G and Orange Money, and a 1.6% rise in France.  However, 2020 sales elsewhere in Europe were down 3.5% and enterprise revenues down 1.4%.

Orange Money's revenues rose almost 22% in the fourth quarter, meaning the business generated more than 500 million revenues for the full-year. At the end of 2020, the Orange Money customer base comprised 21.9 million active customers, up 20% year on year.

Orange also reported a 70% rise in net banking income to 69 million euros in 2020. At December 31, 2020, Orange Bank’s customer base in France and Spain, including the mobile insurance offer, was almost 1.2 million customers. It added that Orange Bank Africa, launched at the end of July 2020 in Côte d’Ivoire, already has over 350,000 customers, more than half of whom have taken out loans.  Source: Orange statement

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