Hong Kong virtual bank ZA Bank achieved a net income of HKD 152 million in the first half of this year, a year-on-year increase of 13.0%

ChainCatcher news, ZhongAn Online P&C Insurance Co., Ltd. (ZhongAn Online, 06060.HK) announced that its virtual bank ZA Bank, located in Hong Kong, achieved a net income of HKD 152 million in the first half of this year, a year-on-year increase of 13.0%. The net interest margin further increased to 1.87% during the interest rate hike cycle. As of the end of June, ZA Bank recorded a deposit balance of HKD 10.712 billion and total loans of approximately HKD 4.916 billion, with a loan-to-deposit ratio of 45.9%.

ZA Bank's net loss improved by HKD 57 million compared to the same period last year, with the net loss rate narrowing by about 60 percentage points. In its semi-annual report, ZhongAn Online stated that ZA Bank is currently providing basic commercial banking services for Web3 enterprises, while also serving as a settlement bank for local licensed virtual asset exchanges such as HashKey Exchange, offering convenient fiat deposit and withdrawal services. In addition, ZA Bank plans to launch U.S. stock trading services in due course to further meet users' diverse investment and financial needs.