MariBank Founder Zheng Yu Dong Resigns as CEO, Transitions to Advisory Role
Zheng Yu Dong, the founding CEO of MariBank, a digital bank licensed by the Monetary Authority of Singapore (MAS) and a wholly-owned subsidiary of Sea Group, has announced his decision to step down from the CEO role after a five-year tenure.
According to a LinkedIn post by Zheng, he will continue to serve as an advisor to both MariBank and Sea Group, the parent company.
Sea Group has secured two digital banking licenses - one in Singapore to establish MariBank, and another in Malaysia for the yet-to-be-launched YTL-Sea Digital Bank Project.
Under Zheng's leadership, MariBank has reported significant growth in its customer deposits and balances. In 2023, the digital bank recorded S$503.8 million in deposits and balances, a massive increase from just S$2 million the previous year. H...