Hong Kong's first virtual bank ZA Bank is celebrating its one year anniversary and has just announced that it currently has 300,000 users, equivalent to 4% of Hong Kong's population.
The bank has announced some additional milestones as well. For example, by the end of 2020, the bank had about 220,000 users, paid interest on over HK$6,000,000,000 of savings, and addressed users' financial needs with more than HK$650,000,000 of loans. Meanwhile, the total amount of interest earned by individual users' savings and time deposit accounts between 18 October and 31 December 2020 was HK$38,000,000, equivalent to 900,000 cups of coffee. In January this year, ZA Card users received HK$6,500,000 of rebates.
As creating an account in a short period of time is one of the advantages of virtual banks, ZA Bank said users can enjoy a new digital banking experience in as fast as "two minutes and three seconds."
Lastly, there was a customer receiving HK$1,500,000 of interest on savings and deposits, while another customer spent 1,677 times with ZA Card, equivalent to 12 daily transactions on average between 18 October 2020 and 5 March 2021.
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