# ZA Bank

> Source: https://docs.barcoder.ai/docs/wallets/za-bank
> research date 2026-05-29 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [ZA Bank — official](https://bank.za.group/)

## Overview

**ZA Bank** is **Hong Kong's first virtual bank to launch + first HK digital bank to surpass 1 million users** <sup>[1][1], [2][2], [Hong Kong report](https://docs.barcoder.ai/docs/payments/HK)</sup>. **H1 2025 milestones**:
- **1+ million users** (first HK digital bank milestone)
- **Highest customer deposits + net profit** among HK's 8 digital banks (June 30, 2025)
- **First profitable HK digital bank**: H1 2025 profit **HK$49 million**
- **Customer deposits**: **HK$21.1 billion (~$2.7B; +8.8% YoY)**
- **Card transactions**: +33% YoY
- **Total transaction amount (incl. remittance + FX)**: +132% YoY
- **Wealth management AUM**: +125% YoY in H1 2025

**Distinctive ZA Bank positioning** <sup>[3][3]</sup>:
- **ZhongAn Technologies International Group parent** (subsidiary of ZhongAn Online P&C Insurance — China's first online-only insurer co-founded by Ant + Tencent + Ping An).
- **HKMA Virtual Bank license** — Hong Kong's first virtual-bank-license issued (March 2019; service launch March 2020).

## History

**March 2019 — HKMA Virtual Bank license granted** (one of HK's first 8 virtual bank licensees).

**March 2020 — ZA Bank service launches** <sup>[2][2]</sup>: HK's first virtual bank to operationally launch.

**2021-2024 — Mass HK adoption** <sup>[1][1]</sup>: Multi-hundred-thousand user growth.

**H1 2025 — 1M+ users (HK digital bank first) + first profit HK$49M + deposits HK$21.1B + card tx +33% + total tx +132% + wealth AUM +125% YoY** <sup>[3][3], [4][4]</sup>.

## Ownership & operator

**Operating entity**: **ZA Bank Limited**.

**Parent**: **ZhongAn Technologies International Group** — subsidiary of **ZhongAn Online P&C Insurance Company Limited (HKEX: 6060)** (China's first online-only insurer; co-founded by **Ant Group + Tencent + Ping An Insurance**).

**Regulators**: **HKMA (Hong Kong Monetary Authority)** — HK Virtual Bank license.

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | ZA Bank mobile app (iOS + Android) + ZA Bank Visa cards |
| **Identifiers** | Phone + email + card number + HKID (Hong Kong Identity Card) |
| **HK rail** | **FPS** (Faster Payment System) |
| **License** | HKMA HK Virtual Bank license (Mar 2019 grant; Mar 2020 launch) |
| **Sub-products** | ZA Bank Account + ZA Bank Cards + ZA Bank Wealth Management + ZA Bank International Remittance + ZA Bank FX + ZA Bank Loans |
| **2025 milestones** | 1M+ users + first profit + HK$21.1B deposits + +33% card tx + +132% total tx + +125% wealth AUM YoY |

## Users & growth

**H1 2025 baseline** <sup>[1][1], [4][4]</sup>:
- **Users**: 1+ million (HK digital bank first to surpass)
- **H1 2025 profit**: HK$49 million (first-ever profit)
- **Customer deposits**: HK$21.1 billion (~$2.7B; +8.8% YoY)
- **Card transactions YoY**: +33%
- **Total transaction amount YoY (incl. remittance + FX)**: +132%
- **Wealth management AUM YoY in H1 2025**: +125%

## Use cases

HK retail digital banking (deposits + cards + loans + wealth management); ZA Bank Visa cards + +33% card tx YoY; international remittance + FX (+132% total tx YoY); wealth management +125% AUM YoY in H1 2025; HK's largest virtual bank by deposits + net profit.

## Implementations & partners

**Operator**: **ZA Bank Limited**.

**Parent**: **ZhongAn Technologies International Group** — subsidiary of **ZhongAn Online P&C Insurance (HKEX: 6060)**.

**ZhongAn co-founders (parent context)**: **Ant Group + Tencent + Ping An Insurance** — distinctive Chinese-fintech-mega-trio co-founded parent.

**Major Hong Kong virtual bank competitors**:
- **Mox Bank** (Standard Chartered-backed; 600,000+ customers mid-2025)
- **[WeLab Bank](https://docs.barcoder.ai/docs/wallets/welab-bank)** (WeLab; ~500,000 users mid-2025; first profit H1 2025 too)
- **Livi Bank** (BOC HK + JD.com + Jardine Matheson JV)
- **Airstar Bank** (Xiaomi + AMTD JV)
- **Ant Bank (HK)** (Ant Group HK virtual bank)
- **Ping An OneConnect Bank** (Ping An-backed)
- **Fusion Bank** (Tencent + ICBC + Hillhouse JV)

**Regulator**: **HKMA**.

## Fun facts

- **Hong Kong's first virtual bank to operationally launch** (March 2020).
- **First HK digital bank to surpass 1 million users** (H1 2025).
- **First HK virtual bank to achieve profitability** — H1 2025 HK$49M profit.
- **ZhongAn Technologies International Group parent** — subsidiary of ZhongAn Online P&C Insurance.
- **ZhongAn co-founded by Ant Group + Tencent + Ping An Insurance** — distinctive Chinese-fintech-mega-trio.
- **H1 2025 milestones**: Deposits HK$21.1B (~$2.7B; +8.8% YoY) + card tx +33% + total tx +132% + wealth AUM +125% YoY.
- **HK's largest digital bank by deposits + net profit** (June 30, 2025).

## Comparison

| Feature | ZA Bank | [WeLab Bank](https://docs.barcoder.ai/docs/wallets/welab-bank) (HK virtual bank rival) | Mox Bank (Standard Chartered-backed HK rival) | Ant Bank (HK) (Ant Group HK rival) | [BoursoBank (Boursorama)](https://docs.barcoder.ai/docs/wallets/boursobank) (FR digital bank analogous) |
|---|---|---|---|---|---|
| Operator | **ZA Bank Limited (ZhongAn Technologies International Group; ZhongAn HKEX: 6060)** | WeLab Bank (WeLab pan-Asian fintech) | Mox Bank (Standard Chartered-backed) | Ant Bank HK (Ant Group HK subsidiary) | BoursoBank (Société Générale wholly-owned) |
| Type | **HK first virtual bank to operationally launch + 1st HK digital bank with 1M+ users + 1st HK virtual bank profitable** | HK virtual bank + pan-Asian WeLab fintech 70M individual users | HK virtual bank Standard Chartered-backed | HK virtual bank Ant Group HK | FR #1 digital bank Société Générale wholly-owned |
| Country | Hong Kong | Hong Kong + WeLab pan-Asian | Hong Kong | HK + AlipayHK ecosystem | France |
| Users | **1M+ (H1 2025; HK first to surpass) + HK$21.1B deposits (+8.8% YoY)** | ~500K HK + 70M pan-Asian WeLab | ~600K HK | Smaller HK | 8.8M FR end-Dec 2025 |
| Profitability | **First HK virtual bank profitable; H1 2025 HK$49M profit** | First profit H1 2025 (HK$460M H1 2025 net revenue; +70% YoY) | Not yet profitable | Smaller scale | Profitable |
| Distinctive | **ZhongAn Insurance HKEX: 6060 parent; co-founded by Ant + Tencent + Ping An; H1 2025 card tx +33% + total tx +132% + wealth AUM +125% YoY** | WeLab pan-Asian 70M users; 11% HK unsecured personal loan market share | Standard Chartered-anchored | AlipayHK ecosystem | 8M July 2025 milestone 18mo ahead of plan |

## Status

**Active, Hong Kong's first virtual bank + first HK digital bank to surpass 1M users + first profitable HK virtual bank** <sup>[1][1], [4][4]</sup>:
- **ZA Bank Limited (ZhongAn Technologies International Group)** since March 2020 (HKMA Virtual Bank license Mar 2019).
- **H1 2025**: 1M+ users + first profit HK$49M + deposits HK$21.1B (~$2.7B; +8.8% YoY) + card tx +33% + total tx +132% + wealth AUM +125% YoY.
- **ZhongAn parent (HKEX: 6060)** co-founded by Ant + Tencent + Ping An.
- **HK's largest digital bank by deposits + net profit** (June 30, 2025).
- **HKMA regulated**.

## Sources

[1]: https://bank.za.group/en "ZA Bank — official"
[2]: https://ffnews.com/newsarticle/fintech/za-bank-hong-kongs-first-digital-bank-to-reach-one-million-users/ "ZA Bank HK first digital bank 1M users — FF News"
[3]: https://fintechnews.hk/35776/virtual-banking/za-bank-profitability/ "ZA Bank H1 2025 profitability HK$49M — Fintech HK"
[4]: https://thedigitalbanker.com/za-bank-becomes-hong-kongs-first-digital-lender-to-surpass-one-million-users/ "ZA Bank first HK digital lender 1M users — The Digital Banker"
[hk-cro]: https://docs.barcoder.ai/docs/payments/HK

- [1] [ZA Bank — official][1]
- [2] [ZA Bank HK first digital bank 1M users — FF News][2]
- [3] [ZA Bank H1 2025 profitability — Fintech HK][3]
- [4] [ZA Bank first HK digital lender 1M users — The Digital Banker][4]
- <sup>[Hong Kong report](https://docs.barcoder.ai/docs/payments/HK)</sup> In-corpus: `reports/countries/HK-hong-kong.md`

## Source

Biography extracted from [za-bank.md](https://docs.barcoder.ai/source/wallets/za-bank). See `matrix.md` for standards-support matrix if present.