Friday, 14 June 2024

Best Global Digital-Only Bank and in Asia Pacific is WeBank

5 min read

  • This bank has the largest user base with more than 350 million individual customers and three million small businesses. It saw monthly growth of 2.5 million customers in 2022. 
  • The bank also demonstrated impressive operational efficiency, serving approximately 118,000 customers per employee while maintaining a cost-to-income ratio of less than 40%.
  • The bank achieved daily transaction volumes of over 790 million, actively enhancing service efficiency and customer experience for small businesses while also managing risk and cost, extending end-to-end digital loans totaling $188 billion to over one million small and medium-sized enterprise (SME) borrowers in 2022.
  • The bank achieved stronger revenue growth, a lower cost-to-income ratio and a higher return on equity compared to ING’s global retail arms and the digital-only bank in the United States, Ally Bank, that ranked second and third in the global ranking.
  • With exceptional technological innovation capabilities, a robust financial performance that outperformed its two closest rivals, the Best Global Digital-Only Bank is WeBank.
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