Hong Kong's ZA Bank crosses 300,000 users, 4% of city's population

The bank has given HK$650m in loans.

ZA Bank has surpassed over 300,000 users in its platform, equal to 4% of Hong Kong’s population, the bank announced.

This meant that the bank onboarded around 80,000 new people over the past three months, as the bank had reported over 220,00 users as of 31 December 2020.

Also Read: Meet ZA Bank, Hong Kong's first virtual only lender

The bank has also shelled out HK$650m in loans, and has paid interest of over HK$6b for personal savings.

ZA Bank is celebrating its first anniversary on 24 March. In the span of a year, the bank has undergone 25 updates and rolled out three new functions per month on average.

The bank also shared that it took only two minutes and three seconds on average to open a new account, thanks to its propriety eKYC technology.

Card users have reportedly also received a total of HK$6.5m in rebates, which ZA Bank said is equivalent to 250,000 double cheeseburgers.