Zhongan Bank announces mid-term performance: total assets increased to HKD 20 billion, becoming the first Digital Bank in Hong Kong to achieve monthly profitability

Odaily Planet Daily News According to the mid-year performance report released by ZhongAn Bank, as of June 30, 2024, the total assets of ZhongAn Bank rose by 43% to HKD 20 billion, making it the first Digital Bank in Hong Kong to achieve a monthly profit. According to public information, in the commercial banking sector, the number of new accounts opened by ZhongAn Bank rose by 60%, with over 800,000 users, accounting for 13% of the Bankable Population in Hong Kong. At the same time, more than half of the users have set ZA Bank as the default receiving bank for Faster Payment System (FPS), with a penetration rate of 25% among the young Z generation. In addition, after the Hong Kong Monetary Authority announced the list of stablecoin issuers participating in the sandbox, ZhongAn Bank immediately announced that it will become the first local Digital Bank to provide exclusive reserve banking services for stablecoin issuers, and is also one of the first banks in Hong Kong to provide such services. (aastocks)