GX Bank Berhad - Malaysia

The Grab-led digital bank, GX Bank Bhd (GXBank) has completed an operational readiness review and has been approved to commence operations effective Sept 1, 2023, by the Minster of Finance and Bank Negara Malaysia (BNM). The latest development makes GXBank the first of the five digital bank license applicants to receive approval, and it is ahead of the April 2024 deadline set by BNM. 

GXBank said it will leverage technology and innovation to serve the needs of the unserved and underserved individuals, and micro and small medium enterprises (MSME). Additionally, the digital-only bank will support customers’ needs through various channels including a bank app and 24/7 customer support via multiple platforms.

GXBank is a subsidiary of GXS Bank Pte. Ltd., - the digital bank joint venture between Grab Holdings Limited and Singapore Telecommunications Ltd (Singtel) - and a consortium of other Malaysian investors, including Kuok Group.