Hong Kong's first and largest digital bank ZA Bank recently announced that it has turned losses into profits in the month of July, marking a further consolidation of its leading position in the digital banking sector.
According to the information from the Smart Finance APP, Hong Kong's first and largest digital bank ZA Bank recently announced that it has turned losses into profits in the month of July, marking a further consolidation of its leading position in the digital banking sector. Since its establishment in 2020, ZA Bank has achieved this milestone in just four years, demonstrating its strong growth momentum and leadership in the global digital banking industry.
ZA Bank, by providing comprehensive financial services including banking, insurance, and investment, as well as continuously expanding its range of products and services such as fund and US stock trading functions, and tailoring commercial banking solutions for startups and small to medium-sized enterprises, has gained wide market recognition.
The strategy of focusing on user needs has not only driven the business growth and profitability of ZA Bank, but also earned the trust of over 0.8 million users, accounting for 13% of Hong Kong's bankable population, with a penetration rate as high as 25% among the young Z generation. This rapid growth surpasses the development history of many medium-sized retail banks, demonstrating the high recognition of the public for ZA Bank's innovative, secure, and user-friendly banking experience.
According to ZA Online (06060), as of the end of June, ZA Bank's deposit balance is approximately 16.801 billion yuan, and the total loan balance is approximately 5.619 billion yuan. During the period, the income was 0.255 billion yuan, a year-on-year increase of 46%. ZA Bank's net interest margin is better than the industry average, with net income growing by 46% year-on-year to 0.255 billion Hong Kong dollars, proving the sustainability of its diversified business model.