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.
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He underscores that transformation, talent, and measurable impact separate financial industry leaders from the rest.
Commentary
Banks need to rethink identity governance for AI agents
From stablecoins to sovereignty: The rise of trust-based digital dollar systems
Indonesia’s banks need faster fraud decisions as digital payments grow
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Adapting to change with confidence
Asia plays part in $129t global credit market pool
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