GXBank, the digital bank backed by ride-hailing and technology group Grab, is Malaysia's largest operational digital bank by both customer deposits and total assets, according to a RAM Ratings banking insights report published in March 2025. The bank held RM2.16 billion — approximately $489 million — in customer deposits as of September 2024.
The deposit figure was accompanied by a total assets position of RM2.4 billion as at the end of September 2024.
LOSSES AND COST OF FUNDS
The bank posted a pre-tax loss of RM189 million for the first nine months of its financial year ending December 2024.
Malaysia's central bank granted five digital banking licences in 2022.
RAM Ratings noted that GXBank's cost of funds, at about 3%, was above Boost Bank's 1.7%.
LENDING
The bank has begun lending to retail customers and Grab merchants.