Neo banks: Change at the leadership of DigitalBank N26

Deutsche Digitalbank N26 has initiated a change of management. N26 co-founder Valentin Stalf announced that he would withdraw from his position as co-CEO from operational responsibility. After a transition period, he would switch to the supervisory board of Berliner Digitalbank.

Previously, media such as the “Manager Magazin” and the “Handelsblatt” reported that an intermediate examination report from Bafin’s banking supervision had failed. Among other things, the question of how much loan the institute can award to its customers should have been concerned. Against this background, investors had put pressure on the leadership of N26.

Stalf remains a large investor

Valentin Stalf founded N26 2013 together with Maximilian Tayenthal. With the withdrawal from the operational business, Stalf will not turn his back on Neobank. Together, both founders hold almost 20 percent of the shares in N26. Tayenthal remains in his current roles as the board of the N26 group and bank.

In a conversation with the German Press Agency (dpa), Stalf referred to the successes that were achieved under his leadership. “In total, N26 is currently very good.” The company now has 1,500 employees and has around 5 million earnings relevant to income. “We increased sales of 40 percent last year. And now we are making sales over half a billion euros.” N26 achieved sustainably profits and will also complete the second half of the year profitably. “That is why it is a good time to take this step and take this change.”

Report Manager Magazin Report “Handelsblatt”