GXBank is expanding its lending business as it works towards its first full-year profit in 2028, The Edge reported.
The digital bank’s first-half net loss widened slightly from RM119.9 million in 2025 to RM122.1 million in 2026.
Operating income more than tripled to RM61.4 million, but allowances for credit and other losses increased to RM61.9 million from RM18.6 million.
Gross impaired loans accounted for 1.88% of its loan book at the end of June, compared with 1.03% six months earlier.
CEO Kaushik Chowdhury told The Edge that Bank Negara Malaysia is assessing GXBank’s application to exit its foundational phase.
Approval would lift the RM3 billion asset ceiling that applies during this initial three-to-five-year period.
At 30 June 2026, GXBank held RM2.03 billion in customer deposits and RM2.54 billion in total assets. Its gross loans stood at RM1.21 billion.
GXBank Builds Its Business Loan Portfolio With IFC Backing
GXBank has secured a risk-sharing agreement with the International Finance Corporation (IFC) to support loans to MSMEs.
IFC’s maximum first-loss exposure is US$4.95 million under the arrangement, which supports an eligible loan portfolio of up to US$110 million.
Chowdhury put the number of business operating accounts at about 15,000 and reported around 5,000 drawdowns through FlexiLoan, its financing product for sole proprietors.
GXBank serves over 1.6 million customers overall. Chowdhury estimated its retail lending book at around RM1 billion and disclosed that FlexiCredit has attracted more than 100,000 customers.
The bank expanded access to FlexiCredit in August through TNG eWallet’s CashLoan service, allowing users to apply without opening a separate bank account.
GXBank targets pre-provision operating break-even by the end of March 2027.
Chowdhury also outlined a September 2027 target for break-even before interest, taxes, depreciation and amortisation.
Featured image: Edited by Fintech News Malaysia, based on image by digitizesc via Freepik
