, Hong Kong
Banner from ZA Bank.

ZA Bank reports HK$548m net revenue and narrows losses by 42%

Net interest income is 86% higher in 2024.

ZA Bank said that it has narrowed its losses by 42% year-on-year (YoY) in 2024, with a net revenue of HK$548m.

This is an improvement of HK$167, the Hong Kong digital bank said in a statement.

Net interest income rose 86% to HK$489m.

Loans and advances rose by 5.7% to HK$5.6b, whilst its net interest margin (NIM) expanded 47 basis points to 2.41%.

Operating expenses were reduced by HK$48m, whilst total assets rotate 60% to exceed HK$22b.

ZA Bank has 800,000 users as of 2024, according to CEO Calvin Ng.

“Our ambition is clear: to surpass one million users by 2025 and establish ourselves as the preferred wealth management platform for Hongkongers,” he said in a statement.

Business customers doubled to over 3,000 companies.

The bank said that it now serves over 200 Web3 companies in Hong Kong, including major virtual asset trading platforms in the city.

Follow the link s for more news on