Nubank, WeBank and MYBank are the world’s top three digital banks Digital banks are moving towards structured growth, with profitability continuing to improve WeBank, Revolut, Ally Bank, Nubank, Wio Bank and GoTyme are the best digital banks in their respective regions Shanghai, 12 March 2026 - Nubank retains the top spot in the 2026 TABInsights World’s Top 100 Digital Banks Ranking, with diversified offerings, strong customer engagement and robust financial performance. China’s WeBank and MYBank rank second and third, while South Korea’s KakaoBank and K-Bank complete the top tier. The ranking highlights the most successful first- and second-generation digital banks, operating independently from traditional commercial banks to provide a unique virtual customer experience. Digital banks are entering a more structured phase after years of rapid expansion. While headline growth has moderated from early surges, profitability is improving, though returns remain uneven. The 100 digital banks collectively held $1.4 trillion in assets, $1.1 trillion in deposits and $0.7 trillion in loans, generating approximately $60 billion in revenue by the financial year (FY) 2024. Among them, 55 are headquartered in Asia Pacific, 26 in Europe, eight in North America, six in Latin America and five in the Middle East and Africa. Nubank, WeBank and MYBank are the world’s top three digital banks Nubank has sustained rapid growth while deepening customer engagement. Its customer base grew from 94 million in FY2023 to 114 million in FY2024 and 131 million in FY2025. It is pursuing international expansion and diversifying its product portfolio. Pre-tax return on equity (ROE) rose from 27.2% in FY2023 to 39.8% in FY2024, supported by a low-cost operating model, with the monthly average cost to serve per active customer remaining at $0.80. Meanwhile, disciplined credit risk management was maintained by shifting the credit card portfolio toward lower-risk customers, increasing secured lending, and improving risk profiling for unsecured loans. WeBank delivered solid performance in FY2024 despite a challenging external environment. Its retail customer base grew by 25 million to 424 million, while approximately 6 million micro, small, and medium enterprises (MSMEs) applied for loans. Corporate lending has surpassed consumer lending, driven by MSME growth. This strategic shift aims to optimise the portfolio, manage risk and rebalance profitability, affecting short-term earnings but enhancing long-term resilience. Combined with net interest margin compression and tighter regulation that reduced platform fee income, these factors led pre-tax ROE to decline from 30% to 23.5%, remaining at a robust level. All of the top 10 banks reported full-year profitability in FY2024. Leading digital banks leverage scale, brand recognition, funding advantages and operational depth to reinforce their positions, widening the gap with mid-tier peers. K Bank, C6 Bank, Revolut and SBI Sumishin Net Bank entered the top 10 with expanded operations, diversified revenue streams and improved profitability. Digital banks are moving towards structured growth, with profitability continuing to improve Following a period of rapid formation and scale-driven expansion, digital banks are entering a more disciplined phase characterised by quality-led growth. Although headline growth has moderated from early-stage surges, expansion remains robust. The top 100 digital banks saw approximately 13% growth in their customer base, with median growth in FY2024 reaching 21.6% for assets, 26.2% for deposits, 22.3% for loans and 24.8% for revenue. Growth is increasingly aligned with capital strength and risk management rather than purely acquisition-led scaling. Overall profitability improved across the sector. Among the 100 digital banks included in the 2026 ranking, 57 reported full-year profits in FY2023, rising to 62 in FY2024. Several banks, including C6 Bank, Klarna Bank, Maya Bank, Tandem Bank and Toss Bank, reached break-even in FY2024. Despite these improvements, returns remain uneven. Leading institutions reported high ROE, including Revolut at 52.7%, Nubank at 39.8%, SBI Sumishin Net Bank at 26% and WeBank at 23.5%, while the median pre-tax ROE stood at just 6.9%, with only 13 institutions exceeding 20%. Net interest income remains the dominant revenue source, and strengthening fee-based income and broadening revenue streams continue to be key priorities. Digital banks are increasingly focusing on higher user retention and engagement, capturing a larger share of revenue-generating customers and offering more diversified products. They are balancing new customer acquisition with efforts to generate greater value from existing users while enhancing returns through diversified revenue streams and improved operational efficiency. Product offerings are expanding, with lending, wealth management and insurance increasingly integrated to boost retention and revenue. The top 100 banks now offer an average of 7.2 core products, up from 6.8 in last year’s ranking. Operational efficiency is a key driver of competitive advantage. The median CIR decreased from 57.6% in FY2022 to 53.1% in FY2024, reflecting improved operating leverage. In FY2024, seven banks reported CIRs below 30%, with another 11 recording ratios between 30% and 40%. High user-per-employee ratios demonstrate the scalability of digital operating models, supporting stronger leverage and sustaining structural efficiency advantages. WeBank, Revolut, Ally Bank, Nubank, Wio Bank and GoTyme are the best digital banks in their respective regions Asia Pacific leads with 55 banks holding 48% of assets, 46% of deposits, 54% of loans and 33% of revenue, supported by large, tech-savvy populations, favourable regulations and emerging Southeast Asian markets. Europe hosts 26 digital banks with balanced performance, while eight in North America generate 24% of revenue, 21% of assets, 23% of deposits and 27% of loans. Latin America holds 6% of assets but contributes 19% of revenue, aided by rising smartphone adoption and supportive regulations, while the Middle East and Africa remain underrepresented among the top 100. The top 10 banks in Asia Pacific remain stable from last year, with four from China, three from South Korea, two from Japan and one from Indonesia. WeBank ranks as the best bank in the region, followed by MYBank, KakaoBank, K-Bank and Toss Bank, reflecting the dominant positions of China and South Korea in the region’s digital banks sector. Among the three South Korean banks, KakaoBank recorded the widest customer base and the highest revenue and ROE, K-Bank achieved rapid customer growth along with a significant improvement in profitability and Toss Bank reported its first annual profit in FY2024. Top banks in each Asia Pacific market include Judo Bank in Australia, WeLab Bank in Hong Kong, Airtel Payments Bank in India, SeaBank in Indonesia, SBI Sumishin Net Bank in Japan, Maya Bank in the Philippines, Trust Bank in Singapore, O-Bank in Taiwan and TNEX in Vietnam. The top 10 digital banks in Europe include two each from the UK, France and the Netherlands, and one each from Germany, Norway, Spain and Sweden. Revolut ranks as the leading digital bank in Europe, followed by Klarna Bank and OakNorth Bank. Revolut’s pre-tax profit increased 149% in FY2024, supported by disciplined cost management and revenue growth across multiple business lines. Klarna Bank achieved profitability in FY2024, with a pre-tax ROE of 1.5%, while OakNorth Bank posted the lowest CIR in the region at 31%. Ally Bank remains the top digital bank in North America, followed by SoFi Bank and Axos Bank. Ally Bank leads in balance sheet scale and revenue, although profitability faced pressure from portfolio repositioning. SoFi Bank grew faster, while Axos Bank achieved the highest profitability metrics among peers. The top three digital banks in Latin America are all based in Brazil. Nubank continues to lead in scale and performance, with a customer base of 114.2 million at the end of FY2024. C6 Bank surpasses Banco Inter to rank second, with 35 million customers, while Banco Inter held 36.1 million. C6 Bank’s rapid profitability turnaround and focus on secured lending differ from Banco Inter’s ecosystem-driven model and diversified income base. Both banks improved profitability in FY2024, but C6 Bank reported a lower CIR and higher ROE than Banco Inter. In the Middle East, Wio Bank remains the leading digital bank. In FY2024, its revenue tripled, supported by a revenue mix of 55% net interest income and 45% non-interest income. The bank reported a CIR of 44% and a pre-tax ROE of 21.6%, up from just 0.1% in FY2023. Its targeted customer acquisition and diverse revenue streams, supported by a favourable regulatory environment, contributed to its early profitability. In Africa, GoTyme Bank remains the leading digital bank, followed by Nigeria’s Carbon and South Africa’s Discovery Bank. GoTyme Bank focuses on scale and low-cost mass-market strategies, growing its customer base 30% year-on-year to 9.6 million in FY2024 and around 12 million by late 2025, supported by simplified onboarding, retail partnerships and expansion in deposits and small-ticket lending. Discovery Bank targets higher-income clients within the Discovery ecosystem, reaching about one million customers by FY2024 with higher revenue per user at $12 driven by fee income and ecosystem-linked services. View the full World’s Best Digital Banks Ranking here About the World’s Digital Banks Ranking Since 2022, TABInsights, the research arm of TAB Global, has ranked leading digital banks using a balanced scorecard covering five key areas: customer, market/product coverage, revenue and profitability, and balance sheet and funding. Scale and size are not the main determinants, and the assessment prioritises profitability, operational efficiency and the strength of the balance sheet. The ranking highlights the most successful first- and second-generation digital banks, which operate independently of traditional commercial banks and deliver a unique virtual customer experience. It includes digital banks with minimal physical outlets, where any physical presence is non-transactional and serves only digital customers. Digital banking services from commercial banks are considered only if they operate as standalone entities or subsidiaries, with separate brands, onboarding processes and products tailored to specific user groups, distinct from mobile apps accessible to all customers of the parent bank. About TABInsights TABInsights is the global research arm of TAB Global, interacting with a wide spectrum of financial institutions across the Asia Pacific, the Middle East and African regions. TABInsights provides a range of custom and bespoke research for financial institutions in emerging and established markets to facilitate management decision-making process and guide business strategy. TABInsights provides strategic analysis and recommendations to institutions across all verticals including retail, transaction, risk and technology functions. Visit https://tabinsights.com/ for details. About TAB Global TAB Global owns and manages a number of world class digital content platforms namely, The Asian Banker, Wealth and Society, BankQuality.com, as well as learning platforms like The Banking Academy and The Skill Store. Incorporated in Singapore, it has offices in Beijing, Dubai and support offices in Kuala Lumpur and Manila, with plans to expand to Johannesburg, London, Zurich and New York. Visit https://www.tab.global/ for details. For media enquiries, please contact: Nanda Lakhwani Editor TAB Global Email: nlakwani@tab.global
