Tianjin-based China Bohai Bank has just obtained approval to provide depository operations to peer-to-peer lending platforms in China.
Bohai Bank passed inspections to serve as a online lending depository bank on 27 September, according to an official statement released by the National Internet Finance Association of China (中国互联网金融协会) (NIFA) on 29 September.
The approval brings the number of Chinese banks approved by NIFA for personal online loan fund depository operations to 26, including:
- Bank of Beijing
- China Minsheng Bank
- Shanghai Pudong Development Bank
- Bank of Langfang
- XWBank (新网银行)
- Wuhan Zhongbang Bank
- China Merchants Bank
- China Zheshang Bank
- Bank of Shangrao
- Beijing Zhongguancun Bank
- Zhejiang Tailong Commercial Bank
- Pingan Bank
- Huaxia Bank
- Yibin Commercial Bank
- Shanghai Huarui Bank
- aiBank
- China Guangfa Bank
- Xiamen Bank
- XIamen Nongshang Bank
- Haikou United Rural Commercial Bank
- Haikou Nongshang Bank
- China Construction Bank
- Hengfeng Bank
- Xiamen International Bank
- Baoshang Bank
- China Bohai Bank.
Data from Wangdai Zhijia (网贷之家) indicates that as of 21 September a total of 421 P2P platforms in regular operation had executed fund depository agreements with the first batch of banks approved for online loan depository operations by NIFA, accounting for 26.39% of all platforms still active in the sector.
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