Trust Bank has become profitable just three years after launch, driven by strong customer advocacy, rapid product expansion and smart use of AI to scale efficiently.
Trust Bank has reached a major milestone, announcing that it became profitable in March 2026, just over three years after its launch. This achievement places the bank among the fastest digital players worldwide to cross into profitability, and it’s being seen as a strong validation of its model built on innovation, customer loyalty and sustainable growth across multiple products.
The story of how Trust got here is rooted in customer engagement. The bank has built its growth on advocacy, with more than 70% of new customers joining through referrals. Everyday usage has deepened too, with Trust credit cards now being used around 25 times a month on average. In 2025 alone, over SGD 900 million in loans were disbursed and more than 50,000 customers began their investment journey with the bank. This shows that Trust isn’t just attracting new customers, it’s becoming part of their daily financial lives.
Another big driver has been product expansion. Trust has moved quickly to create a broad ecosystem that covers saving, spending, budgeting, borrowing, insurance and investing. By offering solutions that address real customer needs, the bank has positioned itself as a true all‑in‑one digital bank. This has helped strengthen multi‑product relationships and given customers more reasons to stay engaged.
Scaling has also been powered by AI and automation. Since 2023, the customer base has grown by more than 1.5 times and card transactions have risen nearly 2.5 times, even as costs declined. Revenues in 2025 grew 39% year‑on‑year while costs fell by 7%, highlighting the efficiency of its modern platform. Trust has also introduced Singapore’s first fully integrated Gen‑AI customer service chatbot, which now handles nearly half of all customer chats end‑to‑end. Unlike traditional scripted bots, Trust’s AI allows natural conversation and smooth handoffs to human agents when needed, ensuring customers don’t have to repeat themselves. The system even analyses sentiment in real time, helping the bank prevent issues before they become formal complaints.
Trust’s community has continued to grow strongly, with customer numbers reaching 974,000 by the end of 2024 and crossing the one‑million mark early in 2025. That makes Trust the fourth largest retail bank in Singapore by customer numbers, serving one in five adults in the country. Word‑of‑mouth remains its biggest source of growth, while innovative products such as split purchase loans, cashback cards and the Trust+ digital experience have kept engagement high. Credit card customers make an average of 21 transactions each month, and the bank has remained top‑rated on the Singapore Apple App Store.
Financial progress has been equally strong. Deposit balances increased to SGD 4 billion by 2025, driven by Trust+ and gamified savings pots, while lending balances rose to SGD 1.2 billion. Revenue jumped to SGD135 million, while costs decreased by 2% in 2025, showing how scalable its automated platform is. Operating losses narrowed significantly, setting the stage for the profitability milestone achieved in March 2026.
Trust Bank’s success has come from embedding itself into customers’ everyday financial lives, expanding its product suite to cover the full spectrum of needs, and using AI to scale efficiently. It’s a story of rapid growth, strong customer advocacy and smart innovation, and it marks the beginning of a new chapter for one of Singapore’s fastest‑rising digital banks.
Dwaipayan Sadhu, CEO of Trust Bank, said: “We are humbled by the support that our customers have shown us and are truly delighted. Profitability was never the end goal in itself. It’s the outcome of building a bank that customers genuinely use, trust and grow with. We’ve stayed focused on solving real customer needs, bringing true innovation, scaling responsibly, and building a diversified business designed to last and be delightful. We are just getting started and we look forward to bringing further new innovations to Singapore and becoming an even larger part of our customers’ financial journey.”
