Trust Bank hits 1 million customer mark; second digital bank with investment offering after MariBank

Quick Summary:

About 14% of its customers are under 25 while about 26% are over 55.

Mari Invest started with a money market fund, Mari Invest SavePlus, and followed up on Feb 20, 2025, with Mari Invest Income.

Trust booked a net loss of $60 million in the 12 months to Dec 31, 2024, well down on the loss of $128.4 million in 2023, while revenue more than doubled to $97 million and costs rose approximately 5 per cent to $157 million.

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Article Details

Author / Journalist: Chor Khieng Yuit

Category: EconomyBusiness

Markets: SingaporeUnited States

Topics: Million Fund Investment Customers Bank Money Mari Cent Trust Funds Invest

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-21 @ 22:39:21 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1003 words

Reading Time: 6 minutes read

Sentences: 44 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 26320932

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