GXS, a Singapore digital bank backed by Grab and Singtel, narrowed its net loss in 2025 as rapid growth in business lending helped expand its load book, while revenue more than doubled to S$69.6 million (US$53.9 million), according to filings with Singapore’s Accounting and Corporate Regulatory Authority.

Its loan book rose 324% to S$1.03 billion (US$798 million), driven by business lending, which increased to about S$421 million (US$326 million) from S$230,000 (US$178,000).

Loans to individual customers reached S$604.4 million (US$468 million), while deposits rose 38% to S$2.3 billion (US$1.78 billion).

The bank’s April 2025 acquisition of Validus Capital’s Singapore unit helped expand lending to small and medium-sized enterprises through supply chain finance and working capital loans.

Interest income climbed to S$95 million (US$73.6 million), but credit loss provisions also rose to S$58.4 million (US$45.2 million) from S$22.9 million (US$17.7 million). GXS’s non-performing loan ratio improved to 1.5%. The bank remained loss-making in 2025, in line with a broader trend as Singapore digital banks invested to grow.

🔗 Source: Baotintuc Vietnam

Recent GXS developments