GXS Group more than quadrupled its loan portfolio in 2025 as business lending became a major part of its digital banking operations.
The Grab and Singtel-backed group narrowed its net loss to S$208.1 million from S$214.3 million, according to regulatory filings reviewed by DealStreetAsia.
Total loans reached S$1.03 billion, up from S$242.9 million. Corporate lending rose from S$230,000 to about S$421 million and accounted for 41% of the portfolio.
Business Lending Drives Growth
The business loan book included S$197.5 million in term loans, S$194.1 million in trade financing and S$29.4 million in loans to micro, small and medium-sized enterprises.
GXS expanded the business through its April 2025 acquisition of Validus Capital’s Singapore unit, later renamed GXS Capital.
The deal added S$45.4 million in customer loans and S$16.6 million in goodwill.
GXS said the unit doubled its loan book within seven months after gaining access to the bank’s funding capacity and the Grab and Singtel networks.
GXBank also began piloting the model in Malaysia in the third quarter of 2025.
Retail loans remained larger at S$604.4 million. Personal loans reached S$477.5 million, while car loans grew from zero to S$124.2 million.
Higher Income Comes With Rising Credit Costs
Credit provisions rose to S$58.4 million from S$22.9 million, although non-performing loans fell to about 1.5% of gross loans from roughly 2%.
Total income more than doubled to S$69.6 million. Net interest income increased to S$55.6 million, while non-interest income rose to S$14 million.
Operating expenses eased to S$217.6 million from S$223.1 million. Customer deposits grew 38% to S$2.3 billion, while total assets increased 46% to S$3.39 billion.
Group CEO Pei-Si Lai told DealStreetAsia that infrastructure completed in 2024 helped GXS scale more efficiently in 2025.
Featured image: Edited by Fintech News Singapore, based on image by RSplaneta via Magnific
