Hong Kong virtual banks future
ZA Bank reports HK$548m net revenue and narrows losses by 42%
ZA Bank reports HK$548m net revenue and narrows losses by 42%
Net interest income is 86% higher in 2024.
Mox Bank hit HK$170m operating income in 2022
The bank remains dedicated to reaching break-even in 2024, CEO Barbaros Uygun said.
Expect failures amongst Hong Kong’s virtual-only banks: S&P
Digital lenders are currently at a loss-making and some may fold over the next few years.
Thought Leadership Centre
Most Read
1. MAS revokes BSQ payment licence over false disclosures and risk failures 2. Grab takes control of Indonesia’s Superbank via GXS transfer 3. HK banks to gain on IPO surge and stabilising property market 4. Digital wallets seize 65% of APAC payments 5. MAS backs Singapore's finance edge as global risks deepenResource Center
Read Here
Advertise
Sign Up
Event News
It is wading downstream from mortgages to lend to developers, hardware stores, and the likes.
Commentary
Built to last: How Japan is approaching the cross-border payments challenge
Asia’s 20% advantage: The simplification strategy rewriting banking from Singapore to Shanghai
Perth is emerging as an unlikely testbed for the future of global finance