Latest / Your Way Home with Hongbin Jeong
Under the Radar: Trust Bank’s CEO Dwaipayan Sadhu on Trust Bank crossing S$1b in deposits; To become 4th largest retail bank by end 2024; To breakeven by 2025; Managing customer acquisition costs; Positioning against GXS Bank and MariBank; Interest rates vs inflationary environment
We told you about the wholesale banking landscape in our conversation with ANEXT Bank a couple of months back. Now this time, we’re going to turn our attention to look at the digital retail banking sector. Our guest for today is Trust Bank, which is the digital bank backed by Standard Chartered and FairPrice Group. The bank had breached the S$1 billion mark in deposits in early May, with over 500,000 customers signing up, with over 70 per cent of customers coming through referrals. Meanwhile, the company also set a goal to become the fourth largest retail bank in Singapore by customer numbers…
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