GXS wants more secured loans, targets second-hand car market

[SINGAPORE] GXS Bank aims to have secured loans make up half of its lending book by next year, as the digital bank expands into vehicle financing to diversify a portfolio currently weighted towards unsecured lending.

“We do not want to be overleveraged on unsecured loans,” said Jenn Ong, group head of retail at GXS.

“By next year, we will grow our secured loans, and it will be 50 per cent of our lending book.”