Wio Bank Builds Comprehensive SME Lending Suite and Achieves Profitability

UAE digital bank Wio Bank has launched an SME credit card and short-term cash lending products, building out a comprehensive lending suite for small and medium businesses while reaching profitability in its second year of operations.

The new lending products add to Wio's existing SME banking proposition, which includes business accounts, payment acceptance, and cash management tools. The SME credit card provides businesses with revolving credit for everyday expenses, while the short-term cash products offer working capital financing for businesses facing temporary liquidity needs.

Wio's balance sheet has grown to over AED 37 billion, a rapid expansion that reflects strong deposit growth and increasing customer adoption across both its SME and retail banking divisions. The bank's achievement of profitability in 2024, just two years after launching, stands out in a global neobank landscape where many digital challengers take considerably longer to reach breakeven.

The SME lending suite addresses a persistent gap in the UAE banking market. Small businesses have historically found it difficult to access credit from traditional banks, which often require lengthy application processes, substantial collateral, and have minimum lending thresholds that exclude smaller borrowers. Wio's digital-first approach streamlines the credit application and approval process.

Wio Bank is backed by Abu Dhabi Development Holding Company (ADQ) and Emirates Telecommunications Group (e&), giving it institutional support and access to distribution networks. The bank's technology platform, built on a modern cloud-native architecture, allows it to develop and deploy new products quickly.

The continued expansion of Wio's product suite signals the bank's ambition to become a full-service digital banking platform for UAE businesses.