Chan Wing-fu, a senior analyst in the banking and fintech industry at Bloomberg Industry Research, said that it is expected that in 2024, due to rapid revenue growth and a stable cost base, the consolidated loss of Hong Kong virtual banks will be reduced to HK $2 billion or less; operating expenses may fall below HK $3.20 billion. Last year, eight virtual banks generally recorded net interest income growth, with MOX BANK, Fu Rong Bank, Rihui Bank, and Ant Bank (Hong Kong) recording growth of more than 100%. However, PAO Bank and Star Bank recorded a decrease in net interest income compared to the previous year, falling by 14% and 32% respectively. In addition, the smallest loss is Ant Bank, with a net loss of about HK $180 million after tax in 2023. Its net interest income in 2023 was HK $58.419 million, an increase of 291% year-on-year. In the same year, customer deposits were HK $633.822 million, an increase of 79% year-on-year; customer loans were HK $314.375 million, an increase of 573% year-on-year. From the financial report, PAO Bank's technology-related expenses in 2023 totaled about HK $60.61 million, and Star Bank's technology-related expenses were about HK $72.67 million, accounting for about 24% and 30% of the total expenses of the two banks in 2023, respectively.