In today’s briefing:
- Trust Bank Singapore: Banking on Sustainable Growth (Initiation)
Trust Bank Singapore: Banking on Sustainable Growth (Initiation)
- Operational Scale & Market Status: Trust Bank has rapidly matured into Singapore’s fourth-largest retail bank, securing over 1 million customers (approx. 20% market penetration) in just over two years.
- Financial Performance Snapshot: The bank has reached a critical financial inflection point in FY2024, reporting a 148% surge in revenue (to S$96.9 million) while keeping operating expenses nearly flat (+3.8%).
- Product & Ecosystem Integration: Currently, the bank drives high engagement through its “phygital” integration with FairPrice, resulting in active users averaging 21 transactions per month.
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