1. Home
  2. News
  3. In Singapore, digital banks move toward profitability and regional expansion

Sectors & markets

In Singapore, digital banks move toward profitability and regional expansion

Fintech

  • Date: 1st August 2026
  • Zone: ASEAN-O
  • Country: Singapore
  • Name of the relevant sector universe: T&S
  • Name of the relevant sub-sector(s): Fintech
  • Format type: Brief
  • Section: Market trends
  • Theme: Fintech

Title: In Singapore, digital banks move toward profitability and regional expansion

Launched in the early 2020s with a five-year profitability target, Singapore's digital banks are finally starting to see their first results. A new initiative led by the Singapore Exchange (SGX) is also shining a light on the private companies behind these banks.

The Singapore market continues to confirm its appeal for the fintech sector as a whole. After two years of slowdown, investment is now rising sharply again: according to the Pulse of Fintech H1'25 report by KPMG, local fintech companies raised around 913 million EUR across 90 deals in the first half of 2025, an 87% increase year-on-year and the best level recorded since 2023. This rebound is even more notable given that it came as global fintech investment was going through its worst half-year since 2020.

Fintech is now seen as a promising sector for attracting new listings to the Singapore Exchange (SGX). Over the past decade, Singapore has established itself as a genuine regional fintech hub. Today it is home to the digital banks Trust Bank, GXS and MariBank, alongside numerous payment companies and venture-backed high-growth start-ups. This concentration of players at different stages of maturity makes Singapore a prime vantage point for observing the sector's evolution, from venture capital funding all the way through to IPO.

This dynamism illustrates the strength of the Singapore market for foreign investors and companies looking to set up there, at a time when the city-state is precisely seeking to boost the visibility of its private fintech ecosystem.

Source: “Lynnette Tania Lee, 12/06/2026, The Edge Singapore”
URL: https://www.theedgesingapore.com/news/fintech/digital-banks-eye-regional-growth-continue-clawing-towards-profitability

More news