ZA Bank becomes Hong Kong’s first virtual lender to report a monthly profit

Quick Summary:

ZA Bank, the largest of the city’s eight online-only banks, reported a monthly profit in July, its first after nearly four years, driven by fees from its newly launched mutual fund and US stock trading business.

ZA Bank has 800,000 customers, the most among the eight virtual banks.

Loans grew in the single digits, Ng added, without giving details.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong Kong

Topics: Virtual Income Online-only Bank First Eight Deposits Banks Hong Cent Profit

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-04 @ 06:30:06 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 238 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 30 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 22359648

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