Ping An Digital Bank, a Hong Kong-based digital lender and a subsidiary of Lufax Holding, said on October 9 that it had entered the city’s high-end wealth management market by offering private funds to professional investors.

It described the move as a first for a local digital bank.

The bank said the service combines digital capabilities with dedicated offline wealth management support.

It also offers semi-liquid fund products in collaboration with JP Morgan Asset Management and Aberdeen Investments.

Citing the Securities and Futures Commission’s Asset and Wealth Management Activities Survey 2025, Ping An Digital Bank said Hong Kong’s asset and wealth management industry had HK$42.2 trillion (US$5.37 trillion) in assets under management at the end of 2025, up 20% from a year earlier.

Private banking and private wealth management assets totalled nearly HK$12.9 trillion (US$1.64 trillion).

Other digital lenders in the market include ZA Bank, which positions itself as Hong Kong’s first digital bank.

🔗 Source: Ping An Digital Bank