Grab-backed GXS Bank's losses surge 59% in 2023 despite 6x jump in net interest income

Grab-backed GXS Bank's losses surge 59% in 2023 despite 6x jump in net interest income

Charles Wong, Singapore CEO, GXS Bank

Singapore-based digital bank GXS, backed by a consortium of Grab Holdings Inc. and Singtel, recorded a 59% jump in losses for the financial year ended December 31, 2023, despite a 6x increase in net interest income, regulatory filings showed.

Edited by: Joymitra Rai