: GXS Bank Pte, the digital banking venture formed by Grab H...

: GXS Bank Pte, the digital banking venture formed by Grab Holdings Ltd. and Singapore Telecommunications Ltd., has set a goal to achieve profitability by March 2027. The bank plans to aggressively grow its loan book, aiming to double it every six months. Focusing on underserved segments such as gig economy workers and small businesses, GXS leverages data analytics to assess creditworthiness through transactions on the Grab app. Despite stiff competition from Singapore's banking giants, GXS Bank is optimistic about its future, with plans to reach S$3 billion in deposits and a S$2 billion loan book within three years. GXS, which reported widened losses in 2023, is backed by significant capital commitments from Grab and Singtel and has no immediate plans for a public listing