Cake is also the only Vietnamese digital bank to make it into the Top 100 Best Digital Banks Globally in 2025, ranked by The Asian Banker Insight, with the highest total score among Vietnamese digital banks to date.

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Mr. Nguyen Huu Quang, General Director of Cake Digital Bank received the award for Best Digital Bank in Vietnam 2025. Photo: Quyet Nguyen

According to The Asian Banker, Cake has proven its leadership position thanks to strong growth in customer base, deposits, loans and revenue. Thanks to proactive investment in technology, effective application of artificial intelligence and innovation, this digital-only bank has created products suitable for many different customer segments, especially those that are not fully served by traditional banks.

After 4 years of operation, Cake has become a highly recognized digital bank with 62% of customers recognizing the brand; the number of individual customers has reached more than 5 million people - leading the group of digital banks in the market, deposit growth has reached 10,000 billion VND; received about 700,000 loan/credit card application files. At the same time, Cake's revenue per user has tripled - to 12 USD, operating income has increased 7 times and Ebitda has increased 4 times by 2024.

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Cake digital bank currently serves more than 5 million customers. Photo: Quyet Nguyen

As a purely digital bank, Cake uses technology as a development platform, applying advances in artificial intelligence and big data models; implementing a strong investment strategy in technology and AI, especially integrating AI more deeply into the user experience and the entire operation process of the bank, aiming to become the leading AI bank in Southeast Asia.

“Our goal is to provide personalized, faster, more convenient and safer banking services. This will help people easily access modern digital financial products, contributing to the goal of universal financial inclusion in Vietnam,” said Mr. Nguyen Huu Quang, General Director of Cake Digital Bank.

TAB Global is the publisher of financial magazine The Asian Banker and research consultancy TAB Insights. The annual World's Top 100 Digital Banks ranking, published by TAB Insights, evaluates hundreds of digitally native banks in 42 markets globally using a balanced scorecard approach. Key metrics include: Customers, market/product coverage, profitability, asset and deposit growth, and investment capital. The TAB Insights rankings and TAB Global Awards are considered important measures of growth and innovation in the global banking and finance industry.

Bich Dao