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Digital Bank Upstarts Are Years Away From Profits in Hong Kong

  • StanChart-backed Mox plans to boost hiring by 20% in 2021
  • Digital banks vie for slice of $48.2 billion in annual revenue
General Views of Hong Kong
Photographer: Paul Yeung/Bloomberg

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Hong Kong’s virtual banks are facing years of red ink on the bottom line after making limited inroads against their brick-and-mortar rivals in the financial hub.