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


With the bank expanding its customer base by more than twofold y-o-y, cross-border transactions have increased sixfold over the past 12 months.

SINGAPORE --(BUSINESS WIRE)-- 06.06.2024 --

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.

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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

Eric Tey
Ant International