Re:N26 will be leaving the UK
by marrs on Tuesday February 11, 2020 @02:08PM
(#22301539)
It's not a tautology at all, it's the patently obvious. The only business reason they have to not apply for the licence is that they won't have any profits left over afterwards. Ergo they aren't very profitable, unless you're claiming that the licence is designed to be so costly as to keep foreign companies out, which I highly doubt, given that Britain (and especially the Conservative party) like to attract foreign investment.
[ Parent
| on HN ]
Re:N26 will be leaving the UK
by threatofrain on Tuesday February 11, 2020 @02:25PM
(#22301709)
Opportunity cost is another obvious reason to leave money on the table. If the company is small enough then they might rather focus on the EU first, esp. if they thought their specialty was “doorway to EU banking”.
That aspect does make more sense, and perhaps longer term with a divergence in regulation and with, makes sense short to mid term and may be an avenue they try again market wise and until then, best focus on growth area's.
But equally, they started in the UK in October 2018, and perhaps they may of gambled that the UK would stay more aligned or in the EU is my thoughts upon this as well.