ZA Bank Becomes Hong Kong’s First Digital Bank with 1M Users
Hi Digital Banking Fanatic!
ZA Bank just hit a milestone that no other Hong Kong digital bank has reached: 1 million customers.
The numbers behind that growth are equally impressive:
- Deposits climbed nearly 9% YoY to HK$21.1B
- Card transactions surged 33% (vs the market’s 8.4%)
- Total transaction volume, from remittances to FX, skyrocketed 132%
CEO Calvin Ng calls it “a new chapter,” and he’s betting big on wealth management + digital assets to keep the momentum rolling. With assets under management already up 125% this year, ZA is eyeing stock trading and expanded crypto offerings next.
Hong Kong’s FinTech race is heating up, and ZA just set the pace.
Cheers,
INSIGHTS
🌍 Revolut serves 60M+ customers across 48 countries, and the speed at which markets hit the 1M users mark reveals the engine behind its scale.
NEWS
🇨🇳 ZA Bank surpasses 1 million customers. The Hong Kong-based digital bank saw deposits and card transactions rise in H1. Total customer deposits rose 8.8% year-on-year to HK$21.1 billion by the end of the first half of the year. Card transactions jumped 33% YoY, above the market average of an 8.4% growth.
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