HO CHI MINH CITY, Vietnam, Dec 9 (Bernama) -- Cake Digital Bank, Vietnam's pioneering digital bank, announced it has achieved a remarkable milestone, becoming the first digital-only bank in Vietnam to attain profitability merely 3.5 years after its inception. This underscores Cake's profound impact on Vietnam's financial sector as it redefines banking for tech-savvy, young, and underserved consumers.
Launched in 2021, Cake has demonstrated efficiency and scalability, achieving breakeven in June 2024, a critical milestone for digital financial institutions. By Q4 of 2024, Cake announced profitability, distinguishing itself as the first digital-only bank in Vietnam to achieve such a distinction.
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