| Segment report |
The Group’s acquisition of PAObank was completed and the PAObank became a wholly-owned subsidiary of the Group in 2024. Based on the assessment of reportable segments under IFRS 8, the Group determined that only one operating segment needs to be reported as none of the operating segments, other than the lending-related business, meets the quantitative thresholds in terms of revenue, profit or loss, and assets for the year ended 31 December 2024. As digital banking business meets the quantitative threshold in terms of profit or loss for the year ended 31 December 2025, segment information is reported as follows:
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Lending-related business |
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- |
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Retail credit and enablement, consumer finance loan |
Digital banking business |
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- |
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Retail banking and SME banking | The principal executive officer is the Chief Operating Decision Maker (CODM) and monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss and is measured consistently with profit or loss in the consolidated financial statements. However, withholding taxes are managed on a group basis and are not allocated to operating segments. No revenue from transactions with a single external customer or counterparty amounted to 10% or more of the Group’s total revenue in 2024 or 2025.
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Year ended 31 December 2024 |
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Others and
eliminations (a) |
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Service income |
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13,269,082 |
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123 |
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(20,614 |
) |
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13,248,591 |
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13,258,127 |
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123 |
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(9,659 |
) |
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13,248,591 |
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10,955 |
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— |
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(10,955 |
) |
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— |
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Net interest income |
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12,252,365 |
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57,685 |
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1,278 |
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12,311,328 |
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Investment income/(loss) |
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(969,967 |
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47,037 |
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(122,890 |
) |
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(1,045,820 |
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Share of net losses of investments accounted for using the equity method |
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(691 |
) |
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— |
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— |
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(691 |
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Total income |
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Sales and marketing expenses |
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(5,211,047 |
) |
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(35,855 |
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1,449 |
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(5,245,453 |
) |
General and administrative expenses |
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(1,736,182 |
) |
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(30,515 |
) |
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(147,645 |
) |
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(1,914,342 |
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Operation and servicing expenses |
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(4,874,498 |
) |
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(80,301 |
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1,352 |
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(4,953,447 |
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Technology and analytics expenses |
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(1,071,840 |
) |
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(49,902 |
) |
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18,778 |
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(1,102,964 |
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Credit impairment losses |
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(12,544,752 |
) |
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(64,488 |
) |
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(3,667 |
) |
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(12,612,907 |
) |
Depreciation and amortization |
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(388,252 |
) |
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(34,271 |
) |
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(2,999 |
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(425,522 |
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Others |
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413,175 |
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(63,764 |
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(686,869 |
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(337,458 |
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Total expenses |
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Segment loss before taxation |
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Income tax expense |
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(472,871 |
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— |
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(1,051,959 |
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(1,524,830 |
) |
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Segment loss |
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Total assets |
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Total liabilities |
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Year ended 31 December 2025 |
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Others and
eliminations (a) |
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Service income |
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12,294,156 |
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2,958 |
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(18,648 |
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12,278,466 |
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12,277,668 |
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2,640 |
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(1,842 |
) |
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12,278,466 |
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16,488 |
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318 |
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(16,806 |
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— |
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Net interest income |
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13,102,453 |
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91,707 |
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220 |
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13,194,380 |
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Investment income/(loss) |
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1,622,699 |
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108,057 |
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(75,992 |
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1,654,764 |
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Total income |
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Sales and marketing expenses |
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(3,870,154 |
) |
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(63,732 |
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10,324 |
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(3,923,562 |
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General and administrative expenses |
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(1,511,519 |
) |
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(50,572 |
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(279,395 |
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(1,841,486 |
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Operation and servicing expenses |
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(3,685,504 |
) |
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(108,658 |
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3,052 |
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(3,791,110 |
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Technology and analytics expenses |
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(902,023 |
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(73,671 |
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12,349 |
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(963,345 |
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Credit impairment losses |
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(16,434,843 |
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(123,028 |
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(545 |
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(16,558,416 |
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Depreciation and amortization |
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(248,038 |
) |
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(14,619 |
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(4,006 |
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(266,663 |
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Others |
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222,508 |
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(17,000 |
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(566,282 |
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(360,774 |
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Total expenses |
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Segment profit/(loss) before taxation |
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Income tax expense |
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(502,192 |
) |
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— |
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(631,673 |
) |
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(1,133,865 |
) |
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Segment profit/(loss) |
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Total assets |
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Total liabilities |
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(a) |
Others and eliminations mainly represented the Group’s assets, liabilities, income and expenses that are held or incurred for corporate function; or unable to be allocated to a segment on a reasonable basis. |
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