livi Bank reported a total operating income of HK$220 million in 2024 in its latest annual report results, marking a 76% increase. Its losses narrowed by 54% to HK$259 million.
Next, the livi Bank 2024 annual results showed that its total operating expenses decreased by 41% to HK$353 million, while net interest income nearly doubled, reaching HK$214 million.
Following that, livi Bank’s customer deposits also reached HK$2.917 billion, growing by 33% compared to the end of 2023. The loan balance increased by 23% compared to the previous year to HK$1.943 billion.
SME business has purportedly played a vital role in driving livi’s continued growth. Since the launch of livi Business in 2023, livi now provides various commercial banking products, including 80% and 90% Guarantee Product under the SME Financing Guarantee Scheme, as well as Invoice Financing, livi Business Instalment Loan, to meet different customers’ financing needs.
Notably, livi Bank participates in the first cohort of the Generative Artificial Intelligence (‘GenAI’) Sandbox in collaboration with the Hong Kong Monetary Authority and Cyberport, focusing on the development of pioneering anti-fraud solutions to detect and prevent scams.
Looking into 2025, livi Bank targets further driving the growth of SME business by enhancing its lending and insurance services offerings and expanding its fintech solutions.
Source of image: Edited from livi Bank