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SETBACK: Risk fears lead German regulator to ‘substantially reduce’ monthly new customer numbers at troubled bank N26

Image: N26

By Dan Byrne for AMLi

German digital bank N26 has been told to dramatically reduce the number of new customers it takes on board, with a cap now set at 50,000 per month.

In addition, the bank will not be permitted to let the value of mortgage and immovable property-based exposures exceed $500M, the country’s national regulator BaFin said in a statement Tuesday.

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