Business Wire

ANEXT Bank Reports a Surge in Regional and Global Presence Among Its MSME Customers

Share

ANEXT Bank, a digital wholesale bank incorporated in Singapore and a wholly-owned subsidiary of Ant International, today reported a notable increase in regional and global presence among its micro, small and medium enterprises (MSMEs) customers. This is on the back of more than 2-fold growth in its total customer base over the past 12 months.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240605859058/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

(Photo: Business Wire)

Facilitating MSMEs’ Business Expansion Regionally and Beyond

The bank observed a 6-fold year-on-year increase in the total amount of cross-border transactions facilitated for its increasing customer base from the region and beyond. The highest growth in the bank’s cross-border transactions was seen among MSMEs in the wholesale and retail trade, professional services, and information, communication, and technology sectors, aligning with Singapore's robust status as a global trade and financial hub. Furthermore, ANEXT Bank customers exhibited an expanding regional and global presence, with operations extending beyond Singapore into key markets such as the Chinese mainland, Hong Kong SAR, the United States and other Southeast Asian countries.

In addition to Singapore MSMEs expanding regionally and globally, ANEXT Bank saw a notable increase in the number of Foreign Business Owners (FBOs) with businesses incorporated in Singapore. As of 31 May 2024, nearly 31% of the bank’s customers are FBO from 78 nationalities such as from the Chinese mainland, Indonesia, Japan, Malaysia and South Korea. Through its embedded finance partners, ANEXT Bank is also serving an increasing number of foreign-incorporated businesses.

“It is heartening to witness how MSMEs are growing beyond their markets, especially micro and small businesses. Internationalisation is no longer a growth strategy limited to large corporations – through technology and innovation, MSMEs can now easily access global markets. As a digital bank headquartered in Singapore, we are well positioned to support when they are open to doing business with the world,” said Ms. Toh Su Mei, CEO of ANEXT Bank. “It takes grit and openness to grow beyond the familiar. We share that same spirit with MSMEs. As we celebrate two years of delivering innovative digital financial services, we remain committed to supporting more MSMEs embrace new possibilities and achieve their global aspirations.”

Serving the Underserved MSMEs

As of 31 May 2024, 69% of ANEXT Bank’s customers are micro businesses. Breaking down by product categories, 56% of loan customers and 80% of deposit customers are micro businesses. Over the past two years, 31% of ANEXT Bank’s customers started banking with the bank during their start-up stage.

From setting up a multi-currency business account for local and overseas transfers with no minimal balance, getting fuss-free unsecured financing with flexible repayment options, and investing with a fixed deposit account from just US$5,000 for as short as one month, all these can be easily achieved within minutes.

In the most recent financial year ending 31 December 2023, ANEXT Bank achieved remarkable financial milestones. The "loans to customers" surged by 434%, reaching S$222 million, while the "deposits balance" increased by approximately 368%, totalling S$295 million. Additionally, ANEXT Bank reported S$24.5 million in gross income, highlighting its robust ability to generate revenue from primary banking activities and demonstrating significant progress towards its mission of driving financial inclusion.

About ANEXT Bank

Incorporated in Singapore and regulated by the Monetary Authority of Singapore, ANEXT Bank is a digital wholesale bank providing innovative digital financial services to empower local and regional micro, small and medium enterprises (MSMEs) to future-proof their businesses through digital adoption, sustainable practices and global expansion.

Through continuous technology-driven innovation, ANEXT Bank is dedicated to accelerating fintech development and financial inclusion in Singapore and the region. Adopting an open and collaborative approach, ANEXT Bank believes in joining hands with industry partners and public sector agencies to provide SMEs with financial services that are simpler, safer and more rewarding.

ANEXT Bank is a wholly-owned subsidiary of Ant International.

For more information on ANEXT Bank, please visit www.ANEXT.com.sg.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media:
Eric Tey
Ant International
eric.tey@antgroup.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Spatial Releases 2025 1.0.1 with Enhancements for CAD Translation, Model Simplification, and Mesh Preparation for Manufacturing and Simulation2.5.2025 17:47:00 EEST | Press release

Spatial Corp., the leading software development toolkit provider for design, manufacturing and engineering solutions and a subsidiary of Dassault Systèmes, announces the 2025 1.0.1 release and updates across several product lines, reaffirming its commitment to providing innovative solutions for its customers in domains ranging from CAD to simulation, manufacturing, and beyond. The 2025 1.0.1 release delivers expanded functionality designed to streamline manufacturing and simulation workflows. Key highlights include a new custom feature detection API in ACIS for more efficient model simplification, expanded CAD format support—including STEP AP242 PMI writing—and continued enhancements to hidden-body removal. With this release, Spatial reduces manual tasks, increases fidelity in geometry translation, and strengthens its toolset for automated design-to-manufacture and design-to-simulation pipelines. 3D ACIS Modeler Custom Feature Detection (Beta): Model simplification often requires manua

Decent Cybersecurity Joins the Council of Slovak Exporters to Strengthen European Cybersecurity Exports2.5.2025 16:51:00 EEST | Press release

Decent Cybersecurity, a leading European provider of post-quantum security solutions, announces its membership in the Council of Slovak Exporters (CSE), reinforcing its commitment to expanding advanced cybersecurity exports across global markets. This strategic partnership combines Decent Cybersecurity's expertise in critical infrastructure protection with CSE's established export promotion platform. As a company holding national, EU, and NATO "Secret" level security clearances, Decent Cybersecurity brings specialized knowledge in post-quantum security, blockchain technology, and space traffic management solutions to the Council's network. "Joining the Council of Slovak Exporters represents a significant opportunity to strengthen Slovakia's position in the global cybersecurity market," said Matej Michalko, Founder and CEO of Decent Cybersecurity and a long-term expert on post-quantum cryptography and blockchain. "As cyber threats continue to evolve, our advanced solutions are increasin

Saudi Arabia Hosts EDGEx 2025, Pushing the Boundaries of Education2.5.2025 16:29:00 EEST | Press release

Saudi Arabia has taken another step forward in its educational reform journey with the successful conclusion of the International Education Exhibition (EDGEx), held from April 13–16, 2025. Organized by the Ministry of Education, the event convened education leaders, technology developers, and policymakers from around the world under the theme “Beyond Readiness.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250502190798/en/ Saudi Arabia Hosts EDGEx 2025, Pushing the Boundaries of Education (Photo: AETOSWire) Over four days, EDGEx welcomed more than 20,000 local and international visitors, including government representatives, senior educators, academics, business leaders, and professionals in the field. The exhibition served as a platform for dialogue, knowledge exchange, and cross-sector collaboration—bringing together institutions, companies, and decision-makers to explore how education and training can evolve in a rapidl

IFF Announces Tender Offers for Certain Outstanding Series of Notes2.5.2025 16:10:00 EEST | Press release

IFF (NYSE: IFF) announced today the commencement of tender offers to purchase for cash certain of its outstanding series of notes listed in the tables below (collectively, the “Notes”) for an aggregate purchase price, excluding accrued and unpaid interest, of up to $1.8 billion. Pool 1 Tender Offers Pool 1 Maximum Amount: $1.0 billion(1(a)) Title of Security CUSIP/ISIN Principal Amount Outstanding(in millions) Acceptance Priority Level(2) Series Tender Cap(3) U.S. Treasury Reference Security Bloomberg Reference Page Fixed Spread(4) Early Tender Payment (4)(5) 1.230% Senior Notes due 2025 459506AN1 U45950AE9 $1,000 1 $500 million 5.000% UST due 9/30/25 FIT3 + 0 bps $30 1.832% Senior Notes due 2027 459506AP6 U45950AF6 $1,200 2 $300 million 3.750% UST due 4/30/27 FIT1 + 75 bps $30 2.300% Senior Notes due 2030 459506AQ4 U45950AG4 $1,500 3 N/A 3.875% UST due 4/30/30 FIT1 + 110 bps $30 4.450% Senior Notes due 2028 459506AK7 US459506AK78 $400 4 N/A 3.750% UST due 4/15/28 FIT1 + 95 bps $30 Poo

Heidrick & Struggles Appoints a New Managing Partner for Their CEO & Board Practice in Europe and Africa2.5.2025 11:27:00 EEST | Press release

Heidrick & Struggles (Nasdaq: HSII), a premier provider of executive search, global leadership advisory and on-demand talent solutions, has appointed Kati Najipoor-Smith as Regional Co-Managing Partner, CEO & Board Practice, for Europe and Africa. Based at the Firm’s office in Frankfurt, Germany, Kati brings decades of global executive search and consulting experience to the Heidrick & Struggles team to support boards and CEOs in navigating complex leadership challenges. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250501269229/en/ Kati Najipoor-Smith has been appointed Heidrick & Struggles' Regional Co-Managing Partner, CEO & Board Practice, for Europe and Africa Kati began her executive search career at Egon Zehnder in 1999, where she led Global Automotive and later the Global CEO Practice over several years. She advises chairs and CEOs of publicly traded, family-owned, and private-equity-backed companies across sectors

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye