China Bohai Becomes 26th Bank Approved by NIFA for P2P Depository Operations

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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:

  1. Bank of Beijing
  2. China Minsheng Bank
  3. Shanghai Pudong Development Bank
  4. Bank of Langfang
  5. XWBank (新网银行)
  6. Wuhan Zhongbang Bank
  7. China Merchants Bank
  8. China Zheshang Bank
  9. Bank of Shangrao
  10. Beijing Zhongguancun Bank
  11. Zhejiang Tailong Commercial Bank
  12. Pingan Bank
  13. Huaxia Bank
  14. Yibin Commercial Bank
  15. Shanghai Huarui Bank
  16. aiBank
  17. China Guangfa Bank
  18. Xiamen Bank
  19. XIamen Nongshang Bank
  20. Haikou United Rural Commercial Bank
  21. Haikou Nongshang Bank
  22. China Construction Bank
  23. Hengfeng Bank
  24. Xiamen International Bank
  25. Baoshang Bank
  26. 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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