8 Hong Kong digital banks announced their results: a total loss of more than HK$2.6 billion in 2024

8 Hong Kong digital banks (previously known as virtual banks) announced their full-year performance for 2024, and all banks failed to escape losses. The 8 digital banks collectively lost over 2.6 billion yuan in 2024, a decrease of about 12% compared to the previous year. The main situations are as follows:

1. Mox Bank recorded a loss of 710 million yuan, a 4% decrease compared to the previous year, and continued to be the digital bank with the largest annual loss amount;

2. ZA Bank narrowed its losses by 42% to 230 million yuan. As of the end of 2024, customer deposits reached 19.4 billion yuan, a 66% increase compared to the previous year, making it the bank with the highest customer deposits;

3. WeLab Bank, after reaching a monthly break-even in December of last year, is expected to achieve profitability in the first quarter of this year.