Digital Lender Zhongbang Bank Posts 25.88% Profit Growth in 2021

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Wuhan Zhongbang Bank (Z-Bank) saw profit growth of over 25% in 2021 according to its 2021 performance results.

In 2021 Z-Bank saw operating revenues of 1.487 billion yuan, for an increase of 292 million yuan compared to 2020. Net profits were 321 million yuan, for an increase of 66 million compared to the year previously, or a YoY rise of 25.88%.

As of the end of 2021 Z-Bank’s total assets were 87.167 billion yuan, for an increase of 14.707 billion yuan compared to the start of the year.

Total liabilities were 82.448 billion yuan, for an increase of 14.485 billion yuan, while the deposit balance was 55.131 billion yuan, for an increase of 8.335 billion yuan.

Z-Bank loan balance was 41.192 billion yuan, for an increase of 8.265 billion yuan.

First-founded in the Hubei province capital of Wuhan in 2017 with registered capital of 2 billion yuan, Z-Bank is one of the first privately owned banks to commence operation in China since 1949. The bank focuses on lending to small businesses via online channels.