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Posted On: 05/17/2023 8:15:38 AM
Post# of 25585
$AGBA News! Announces Q1 2023 Results and Sees Tremendous Opportunities for Growth as Mainland China and Hong Kong Rebound
Revenue for Q1 2023 of USD$11.1m, up 533% on the same period in 2022
HONG KONG, May 15, 2023 /PRNewswire/ -- NASDAQ-listed, AGBA Group Holding Limited ("AGBA"
, the leading one-stop financial supermarket in Hong Kong, today published its financial results for the first quarter of 2023. The Group reported revenue of USD$11.1m, which is 5 times higher compared to Q1 2022.
During March 2023, the Group recorded the highest level of new business applications in the past three years. AGBA expects strong growth to continue throughout the remaining quarters of the year. The Group's optimistic outlook is driven by Hong Kong's economic rebound, marked by the reopening of borders, the return of mainland visitors, and strong domestic demand.
Throughout the first quarter, AGBA continued its tech deployment with ongoing enhancements to its client and advisor tools, further improving our customer journeys. In its Platform Business, the Group onboarded 10 new insurance partners and released more than 170 new insurance and investment products – offering over 2,000 financial products in total. In its Distribution Business, the Group signed up three new distribution partners using AGBA's platform business, OnePlatform, as well as one of the large local banks. It also kickstarted a new incubation distribution channel, partnering with smaller adviser teams.
https://finance.yahoo.com/news/agba-group-hol...00929.html
Revenue for Q1 2023 of USD$11.1m, up 533% on the same period in 2022
HONG KONG, May 15, 2023 /PRNewswire/ -- NASDAQ-listed, AGBA Group Holding Limited ("AGBA"
, the leading one-stop financial supermarket in Hong Kong, today published its financial results for the first quarter of 2023. The Group reported revenue of USD$11.1m, which is 5 times higher compared to Q1 2022. During March 2023, the Group recorded the highest level of new business applications in the past three years. AGBA expects strong growth to continue throughout the remaining quarters of the year. The Group's optimistic outlook is driven by Hong Kong's economic rebound, marked by the reopening of borders, the return of mainland visitors, and strong domestic demand.
Throughout the first quarter, AGBA continued its tech deployment with ongoing enhancements to its client and advisor tools, further improving our customer journeys. In its Platform Business, the Group onboarded 10 new insurance partners and released more than 170 new insurance and investment products – offering over 2,000 financial products in total. In its Distribution Business, the Group signed up three new distribution partners using AGBA's platform business, OnePlatform, as well as one of the large local banks. It also kickstarted a new incubation distribution channel, partnering with smaller adviser teams.
https://finance.yahoo.com/news/agba-group-hol...00929.html
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