Trust Bank has announced a significant milestone, reaching one million customers and becoming the fourth largest retail bank in Singapore by customer numbers. To celebrate, the bank is launching a give-back programme, providing S$100,000 to support 1,000 families in need and enhance digital and financial literacy. Additionally, Trust Bank has introduced TrustInvest, an investment solution developed in partnership with abrdn, aimed at making investing more accessible and straightforward for Singaporeans.
The bank’s rapid growth is attributed to its innovative products and strong customer engagement, with over 70% of new customers joining through referrals. In 2024, Trust Bank’s revenue more than doubled to S$97 million, whilst costs rose only slightly above inflation. This financial progress was supported by the launch of various products, including a cashback credit card and the digital banking experience Trust+.
TrustInvest, the bank’s latest offering, aims to simplify investing by providing a seamless experience through the Trust App. Customers can start investing with as little as S$100 and choose from five curated funds designed to meet different investment goals and risk profiles. The platform charges no platform or sales fees, only a clear fund management fee, with incentives for customers who remain invested until the end of 2025.
Dwaipayan Sadhu, CEO of Trust Bank, expressed excitement about the partnership with abrdn, stating, “We’re excited to partner with abrdn on the launch of Trust’s first investment solution and improve our customers’ financial wellbeing.” The launch of TrustInvest marks a significant step in Trust Bank’s mission to make investing accessible to a broader audience, empowering even new investors to build towards their financial future.
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