8 Hong Kong Digital Banks Announce Results: Total Losses Over HK $2.60 billion in 2024

Eight Hong Kong digital banks (formerly known as virtual banks) announced their full-year results for 2024, all of which failed to get rid of losses. Eight digital banks collectively lost more than 2.60 billion yuan in 2024, narrowing by about 12% year-on-year. The main situation is as follows:
1. Mox Bank recorded a loss of 710 million yuan, narrowing by 4% year-on-year, continuing to be the largest digital bank in annual losses;
2. ZA Bank's loss narrowed by 42% to 230 million yuan. By the end of 2024, customer deposits 19.40 billion, up 66% year-on-year, and continued to be the bank with the largest customer deposits;
3. WeLab Bank is expected to achieve profitability in the first quarter of this year after reaching a single-month break-even in December last year.