ANEXT Bank boosts cross-border transactions sixfold

About 69% of its customer base are micro businesses.

ANEXT Bank has facilitated a 6-fold year-on-year increase in cross-border transactions for its expanding customer base, particularly among MSMEs in sectors such as wholesale and retail trade, professional services, and information technology. 

Over the past year, the bank's total customer base has more than doubled, underscoring its growing regional and global presence.

ANEXT Bank's customers are not only in Singapore but also in key markets such as mainland China, Hong Kong, the United States, and other Southeast Asian countries.

Notably, ANEXT Bank has seen a rise in Foreign Business Owners (FBOs) with businesses incorporated in Singapore, representing 31% of its customer base as of 31 May. 

These customers hail from 78 nationalities, including the Chinese mainland, Indonesia, Japan, Malaysia, and South Korea. 

The bank serves predominantly micro businesses, with 69% of its customers falling into this category as of 31 May.

 A significant portion of these micro businesses, 56% of loan customers and 80% of deposit customers, are served by ANEXT Bank. 

Moreover, 31% of the bank’s customers began banking with ANEXT Bank during their startup stage.