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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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