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Wing Bank Thrives in 2024
What’s NewWing Bank’s Revenue, Assets, and Deposits Skyrocketed
Wing Bank (Cambodia) Plc, one of Cambodia’s fastest-growing digital banks, reported robust growth across key financial and operational metrics in 2024, reinforcing its rapid rise as a leading player in the country’s banking sector.
Wing Bank’s revenue rose 73% last year, fueled by a 62% surge in deposits, and the steady loan growth, while total assets climbed 52%, reflecting the bank’s expanding customer base and lending activities
Retail loan disbursements rose 26%, fueled by strong demand from customers seeking financing for business expansion and operations.
“We are profoundly grateful for the trust our customers have placed in us,” said Dmytro Kolechko, Chief Executive Officer of Wing Bank. “That trust has been the driving force behind our growth and strengthens our commitment to delivering innovative financial solutions that improve the lives of individuals, businesses, and communities across Cambodia.”
Wing Bank’s digital platforms also gained momentum, with app users increasing 23% and inbound money transfer users rising 15%, reflecting Cambodia’s accelerating shift toward mobile banking and digital payments.
The growth momentum was further supported by a 26% increase in corporate payroll clients, underscoring Wing Bank’s expanding role in supporting SMEs and formalizing wage payments—a critical factor in strengthening Cambodia’s financial ecosystem.
Wing Bank’s performance was further bolstered by a strategic capital boost. The National Bank of Cambodia recently approved an USD 88 million capital increase, comprising USD 60 million in main capital and USD 28 million in secondary capital. The injection reinforces the bank’s financial stability and enhances its capacity to extend credit and support broader economic activity.
In 2024, Wing Bank introduced several new products aimed at enhancing financial accessibility and customer convenience. Among them was the Save for a Goal Account, designed to help customers manage savings toward specific financial targets. Wing Bank Digital Loan, enabling eligible users to access loans of up to USD 50,000 through the Wing Bank App in as little as three minutes, without the need for collateral or guarantors.
Further expanding its product offerings, Wing Bank introduced Cambodia’s first Mastercard One Card, combining debit and credit functions in a single card, and the Wing Bank Visa Infinite Card, offering exclusive services tailored for high-net-worth clients.
The bank’s achievements in 2024 were recognized with six industry awards, reflecting its innovation, market leadership, and commitment to financial inclusion. Wing Bank received the Leadership in Debit Volume Award, Leadership in Cross-Border Volume Award, and Innovation Breakthrough Award from Mastercard. WingAgri, a cutting-edge platform in the Wing Bank ecosystem, was named Private Sector of the Year at the Cambodia Digital Awards 2024, hosted by Cambodia’s Ministry of Post and Telecommunications.
Additionally, Wing Bank earned the Digital Inclusion Award and Financial Literacy Award from AmCham, underscoring its efforts to promote inclusive finance and financial education in Cambodia.
As Cambodia’s economy continues to diversify and digitalize, Wing Bank’s strategy of combining robust capital, digital capabilities, and a sharp focus on customer-centric approach positions it as a key player shaping the future of digital banking in the Kingdom.
