Just over two years after its launch, Singapore’s leading digital bank has surpassed the one-million-customer milestone, making it the Lion City’s fourth-largest retail bank by customer count.
Trust Bank, established in 2022 through a partnership between Standard Chartered and FairPrice Group is operating under a Full Bank license issued by the Monetary Authority of Singapore.
On Friday, the bank welcomed its one-millionth customer, a milestone that not only signifies how far the firm has come but also demonstrates how customers in Singapore are moving from traditional into digital banking.
Launching Give-Back Program
«Reaching a million customers is a major landmark for us on our journey to becoming one of Singapore’s main retail banks. Banking 1 in 5 adults in Singapore means we play a significant role in the community. To reflect this, we are launching a program to give back, aiming to provide meaningful support and make a positive difference,» Dwaipayan Sadhu, Trust Bank CEO, said.
To celebrate reaching this milestone and to thank Singapore, Trust Bank is launching a give-back program, providing S$100,000 to help 1,000 families in need as well as support with digital and financial literacy.
Partnership with abrdn
Trust Bank made strong financial progress in 2024, with revenue more than doubling to S$97m and with costs rising only slightly above inflation. This progress was supported by the rapid roll-out of an extensive range of products and by strong customer engagement, the bank stated on Friday.
And lastly, Trust Bank has launched TrustInvest in partnership with British asset manager abrdn, making investing radically simple for Singapore.
