Mox Bank acquires US$1 billion loan portfolio from Standard Chartered. Hong Kong's largest loss-making digital bank has acquired a US$1 billion personal instalment loan portfolio from its parent company Standard Chartered Hong Kong. The strategic move is expected to help Mox Bank achieve profitability in the first half of this year. This acquisition follows a similar precedent when WeLab Bank received assets from its parent in 2021, turning profitable. Analysts believe other digital banks with strong parent companies may pursue comparable asset transfers to accelerate their path to profitability. The transferred portfolio was completed at year-end and will impact Mox Bank's first-half results. Repayments should reduce the outstanding balance by approximately half within one year, with remaining loans averaging five to six year terms.
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