According to TechFlow, the acting CEO of Hong Kong virtual bank ZA Bank, Wu Zhonghao, said that the bank had achieved monthly profitability in July this year, becoming the first virtual bank in Hong Kong to achieve this milestone.
Since opening in 2020, some of Hong Kong's eight virtual banks have gradually become profitable. ZA Bank's profits are mainly due to the operational effect brought about by the expansion of customer scale and the adjustment of its business strategy about a year and a half ago, no longer relying solely on high-interest deposits to attract customers.
Nevertheless, given the uncertain market conditions, Wu Zhonghao is not yet sure whether the bank can continue to maintain profitability in the second half of the year, but he expressed confidence that the bank can achieve sustainable profitability in the long term.