Anext Bank sees 83% revenue jump in 2024

Singapore’s Anext Bank, a digital wholesale lender backed by Ant International, reported SGD 44.9 million in revenue for 2024, up 83.5% YoY, as total assets more than doubled to SGD 1.6 billion. Loans rose over 280% to SGD 847 million and deposits jumped 207% to SGD 906 million, driven by demand from small businesses. Despite a wider net loss of SGD 37.2 million, the cost-to-income ratio improved to 116.1%.