12 July 2023
Under the Radar: Trust Bank’s CEO Dwaipayan Sadhu on Trust Bank crossing S$1b in deposits; To become 4th largest retail bank by end 2024; To breakeven by 2025; Managing customer acquisition costs; Positioning against GXS Bank and MariBank; Interest rates vs inflationary environment
We told you about the wholesale banking landscape in our conversation with ANEXT Bank a couple of months back. Now this time, we’re going to turn our attention to look at the digital retail banking sector.
Our guest for today is Trust Bank, which is the digital bank backed by Standard Chartered and FairPrice Group.
The bank had breached the S$1 billion mark in deposits in early May, with over 500,000 customers signing up, with over 70 per cent of customers coming through referrals.
Meanwhile, the company also set a goal to become the fourth largest retail bank in Singapore by customer numbers by the end of next year. It also intends to breakeven by 2025.
Question is – how does it intend to do so with a focus on the mass market and how will it reduce its customer acquisition costs along the way?
On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Dwaipayan Sadhu, CEO, Trust Bank for more.

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Listen to his previous podcasts:

1 September 2022
Money in the Market: Trust Bank - banking made transparent, easy and rewarding with user's trust
Singapore’s first digital bank, Trust Bank, is officially in business! Backed by Standard Chartered and Fairprice Group, Trust Bank launched with savings accounts and credit card offerings for retail customers. On Money in the Market, Finance Producer Hongbin Jeong speaks to Trust Bank’s CEO Dwaipayan Sadhu to find out more about this new digital bank and what it aims to offer to consumers.

Download the podcast.