Axiata to launch digital bank by year-end

KUALA LUMPUR: Axiata Group Bhd plans to launch its digital bank by end-2023 and targets to make it profitable over the next three to four years, said its chief executive officer and managing director, Vivek Sood.

Vivek said the initial capital commitment for the digital bank would be around RM100 million, and it would offer large product offerings, including deposits for current account and saving account (CASA) account holders as well as insurance products and other financial products that would be gradually launched starting end-2023.