Trust Bank’s deposits more than double to S$3 billion in H1 2024, customer base hits 806,000
The digital bank is confident of breaking even by end-2025; it targets unmet needs like the emerging affluent segment
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CUSTOMER deposits at Trust Bank more than doubled to S$3 billion in the first half of 2024, from S$1.2 billion in the same period last year.
The number of customers at the Singapore digital bank also hit 806,000 in the same period, up from 577,000 a year earlier, said Dwaipayan Sadhu, chief executive of Trust Bank.
“We aim to be the fourth-largest retail bank by customer numbers by the end of this year, and we believe we are well on track to getting there,” he said at a media briefing and launch of a new cashback card on Thursday (Aug 29).
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