WeLab Bank achieved profitability in Q1 2025*, continuing from 2024 when it achieved breakeven within four years of its launch. WeLab Bank also states that it is on track to meet its full-year profitability target.

welab bank profit 2025
Source: WeLab Bank

The bank added that it has reached around HK$750 million in revenue^, with 30% YoY growth. It has also hit HK$5.5 billion in its unsecured retail loan portfolio and 9.4% in its net interest margin, purportedly the first for all three milestones for digital banks in Hong Kong.

The bank also shared that it achieved a lower-than-market delinquency rate and an improvement of 37% in credit performance, which it indicates is due to its credit risk technology.

Total deposits grew by 120% YoY while its loan-to-deposit ratio has been maintained at about 80%.

Next, regarding its wealth management segment, WeLab Bank reports that its total assets under management accelerated by almost 300% YoY, while its fee income from wealth management grew by 70% YoY.

Also, by providing digital offerings to mainland Chinese visitors (MCV) who travel to Hong Kong for their personal financial needs, the bank has purported hit an 8x increase in MCV customer onboarding in Q22024 compared to Q12024.

Looking ahead, the bank intends to harness AI Agents to deliver more personalised financial offerings. In doing so, WeLab Bank aims to meet its customers’ needs and elevate their banking experience.

Source of image: Edited from WeLab Bank

* Before tax and share-based compensation expenses.

^Financials are adjusted to exclude one-off acquisition costs incurred during the corporate reorganisation in 2024 and share-based compensation expenses for clear performance insights.