Mox Bank Limited (“Mox”) announced its Mox Bank 2024 annual results today, 30 April 2025. In 2024, Mox’s focus on quality customer onboarding, especially on those with higher monthly incomes, contributed to its performance.

Barbaros Uygun,  CEO of Mox, said,

“By leveraging cutting-edge technologies and fostering deeper relationship with our customers, we’ve not only enhanced our offerings but also redefined what banking means for Hong Kong consumers. ”

Mox delivered a strong performance across key financial indicators in 2024. The bank reported that its net interest income grew by over 20% YoY to over HK$530 million. Operating income also grew by 15% YoY to HK$545 million.

Next, according to the Mox Bank 2024 annual results, deposits experienced substantial growth to HK$17 billion, rising by 56% YoY. Operating costs were maintained at a reasonable level, while credit impairment loss decreased by 33% YoY.

Mox’s customer base expanded 24% YoY to 650,000 by the end of 2024, capturing over 10% of Hong Kong’s bankable population. It reportedly has an engaged customer base with average use of 3.1 products and average login of 15 times per active customer every month.

Notably, with more than 10% penetration into the active customer base, Mox Invest, launched in late 2023, continued to expand its value proposition by enabling all investors to enjoy mid-market foreign exchange rates, U.S. fractional share trading and Crypto ETF investing. These new capabilities saw Mox Invest facilitate strong trading volume in Hong Kong and U.S. stocks.

Mox is purportedly the first digital bank in Hong Kong to offer Asia Miles as part of its Customer Value Proposition and has apparently distributed over half a billion Asia Miles.

In 2025, Mox plans to elevate its wealth management services, refine its lending products, and launch innovative features designed to enhance the digital banking experience.

Source of image: Edited from Mox