Mox Delivers Strong Performance in 2025 Hits Breakeven Milestone in Q1 2026

Hong Kong, 30 April 2026 – Mox Bank Limited (“Mox” or “the Bank”) today announced its financial results for the year ended 31 December 2025, delivering robust growth across all key business lines. Strong performance in deposits, lending, wealth, card spending, and new product launches drove operating income to HKD719 million, up 32% year-on-year.

Building on this 2025 momentum, the Bank has reached its primary financial milestone by breaking even in the first quarter of 2026. This performance demonstrates the underlying strength of the business model as the Bank continues to prioritise market expansion towards long-term sustainable profitability.

Barbaros Uygun, CEO of Mox, said, “2025 was a defining year for Mox as we celebrated our fifth anniversary. Our results underscore the strength of our customer-centric business model and the continued confidence of our 750,000 customers. We are deeply grateful for the trust and support of our customers, partners, and shareholders, without whom we would not have been possible. Together, we have proven that digital banking can be both innovative, impactful and commercially sustainable.”

He added, “Our focus has always been on achieving sustainable profitability while empowering customers to do more with their wealth. Reaching breakeven in the first quarter of 2026 proves that there is a significant appetite for a more agile, digital-first banking experience and it also allows us to keep pushing boundaries. We are building on this positive momentum by expanding our range of wealth and protection solutions for the emerging affluent community in Hong Kong.”

Mox Delivers Growth Across Multiple Metrics

In 2025, Mox delivered operating income of HKD719 million, representing a 32% year-on-year increase, reflecting sustained top-line momentum, strong customer growth and deeper engagement across our full range of products. This drove higher transaction volumes, increased lending activities and boosted fee-based revenue. Net interest income rose 28% year-on-year to HKD678 million, supported by solid loan growth and expanding customer deposits across core segments.

Diversified revenue sources and solid customer engagement show the depth of the growth across the Bank:

• The customer base expanded to approximately 750,000, up 15% year-on-year, representing 12% of the total bankable population in Hong Kong.
  
• Total customer deposits reached HKD21 billion, an increase of 21% year-on-year.
  
• Customer loans grew to HKD14 billion, surged 123% year-on-year, supported by new customer growth, deeper engagement and the acquisition of a personal instalment loan portfolio from Standard Chartered Hong Kong.

Mox also saw significant momentum in its credit card business. Total card spending grew 36% in 2025 to nearly USD3 billion, making Mox’s Credit Card the seventh-largest credit card portfolio among retail banks in Hong Kong1. To date, Mox customers have completed approximately 160 million card transactions and earned 1.8 billion Asia Miles through card spending and banking products since its launch at the end of 2023, demonstrating strong momentum.

Innovation and New Offerings Fuel Customer Engagement

Mox strengthened its suite of products in 2025 with new solutions that brought more choice, access, and value to customers:

• FlexiBoost, the bank’s groundbreaking deposit solution, as well as “Personal Accident Cushion” and “Travel Pick & Go” under Mox’s General Insurance (in partnership with QBE Hongkong & Shanghai Insurance Limited) enriched Mox’s everyday banking and protection offerings, with insurance sales exceeding targets within the first three months.
  
• Mox Invest saw its trading volumes grow to 2.4 times while assets under management (AUM) increase to 2.6 times that of last year, driven by a series of new features that have made investing simpler and more accessible. These include the launch of a wide range of new funds from world-class fund houses like BlackRock, J.P. Morgan, Allianz, Barings, UBS, AB, among others; stock screeners, systematic investment plans and Trading Signals. Investment account penetration rose to 10%, reflecting strong customer appetite for wealth solutions.
  
• USD deposits surged to 13 times that of last year, underscoring Mox’s growing presence as a multi-currency digital bank.

These initiatives, along with Mox’s customer value proposition and data-driven marketing efforts, were key drivers in achieving profitability.

Industry Recognition Reinforces Mox’s Leadership in Digital Banking

Mox continued to receive recognition for its innovation and customer focus, collecting over 120 awards, including Top 100 Digital Banks by The Banker, where Mox ranked first in Hong Kong, Best Digital Bank in Hong Kong by The Asian Banker, and Digital Bank of the Year – Hong Kong by Asian Banking & Finance.

Scaling Up to Serve the Next Generation of Wealth Builders in 2026

While encouraged by the positive trajectory in the first quarter of 2026, the Bank will continue to pursue growth, innovation, and sustainable profitability.

The Bank has a clear focus on expanding its wealth and investment capabilities, deepening customer engagement through data and technology, and driving long-term value creation.

Key initiatives for 2026 include:

• Launching Mox+, will add IPO subscription capabilities.
  
• Expanding Mox Invest, adding IPO subscription capabilities and new thematic investment options.
  
• Launching life insurance to strengthen protection offerings.
  
• Mox is among the first wave of banks in Hong Kong to offer crypto trading with a bank-grade experience, allowing customers to trade Bitcoin, Ethereum and Solana. In addition, the Bank now offers two fund strategies, including the Signature CIO funds in partnership with Amundi, on top of the wide range of funds.
  
• Mox became the first Hong Kong bank to launch One Click Investment, allowing customers to buy multiple stocks from multiple themes like AI, technology, consumer goods, among others, thereby enabling diversification. Mox also introduced Systematic Investment Plans (SIPs) for customers to invest regularly on a monthly basis and navigate market volatility through dollar-cost averaging.

Mox continued to garner industry recognition in the first few months of 2026, earning multiple prestigious awards for its customer experience and digital banking capabilities. These include Best Pure-Play Digital Bank for CX in Hong Kong and Outstanding Digital CX in Banking App/ Platform at The Digital Banker Digital CX Awards. It was also recognised as NeoBank of the Year, Retail Banking, Hong Kong and Best Retail Banking Experience, Hong Kong at The Asset Triple A Digital Finance Awards.

Looking ahead, Mox will continue to strengthen its leadership in digital banking, empowering customers to manage, grow, and protect their money with greater ease and confidence.