ZA Bank Limited

ZA Bank Limited is a licensed virtual bank headquartered in Hong Kong. It is one of the first eight virtual banks authorized by the Hong Kong Monetary Authority under the 2019 virtual banking licensing scheme.
ZA Bank is a subsidiary of ZhongAn, whose major shareholders include ZhongAn, Bestar Holdings, Warrior Investment, and AIA Group. The bank launched its pilot trial in December 2019 and officially began public operations in March 2020. It provides retail banking services through a mobile-only platform, including savings and time deposit accounts, personal loans, and insurance distribution.
As of 2023, ZA Bank is among the most active virtual banks in Hong Kong by user base and loan volume. Its head office is located at Cyberport 3, Pok Fu Lam, Hong Kong.

WWW bank.za.group

History

In August 2018, ZhongAn Online P&C Insurance, Bestar Holdings, and initially China CITIC Bank International formed a joint venture named ZhongAn Virtual Finance Limited to apply for a virtual bank licence from the Hong Kong Monetary Authority. CITIC later withdrew before the licence was granted and its executive Raymond Or resigned from the board in February 2019.
On 27 March 2019, the HKMA issued virtual banking licences to the first batch of applicants, including ZhongAn Virtual Finance Limited, which was later renamed ZA Bank. ZA Bank launched its pilot trial on 18 December 2019 under the HKMA Fintech Supervisory Sandbox.
The bank became the first virtual bank in Hong Kong to begin full operations on 24 March 2020, offering mobile-only banking services including savings accounts, time deposits, local transfers, facial recognition login, and multi-currency support.
In February 2020, ZA Bank partnered with Fiserv to implement the VisionPLUS payment platform for card issuance and transaction processing.
Subsequently, ZA Bank introduced several new features:

In October 2020, it launched a custom-number Visa debit card, the first of its kind in Hong Kong; the physical card was issued in November.
By March 2021, it expanded into SME banking with commercial accounts and unsecured business loans.
In 2022, ZA Bank acquired a Type 1 licence from the Securities and Futures Commission, partnered with Generali for insurance distribution, launched investment fund services, and integrated Wise for cross-border remittances.

By mid-2023, ZA Bank had become the largest virtual bank in Hong Kong by customer deposits, loan balances, and user base—holding over 700,000 customers, approximately HK$10.7 billion in deposits and HK$4.9 billion in loans.
In March 2025, the bank appointed Chung Hon Ng as CEO, effective 27 March 2025.