Digital banks in Asia Pacific witnessed improving overall profitability in FY2019. Although some digital banks’ net profit in FY2020 has been affected by COVID-19 pandemic, their growth outlook remains optimistic.

In a recent survey conducted by TABInsights, the research and consulting arm of TAB Global, banking professionals highlighted AI integration in finance. The top concern, with 48% support, is skill specialisation. This means leaders need to nurture AI skills across different roles, from entry-level business analysts to mid/senior data engineers and data scientists.

Nubank has reported its first full-year profitability since its launch in 2014. Nearing 100 million customers, the bank has set new benchmarks in revenue

North America and Asia Pacific banks maintain overall balance sheet strength over those in other regions, with the Middle East showing some improvements. Profitability among all 1000 banks improved, driven by higher interest rates, while asset quality indicators stayed stable.