Saturday, October 31, 2020
Tags Chinese direct banking

Tag: Chinese direct banking

Online Lender XWBank Posts 205.4% Growth in Net Profits in 2019

Sichuan-based direct lender XWBank has seen a surge in profitability in 2019. As of...

China to Debut Regulations for Exclusively Online Banks, Facilitate Platform Development by Foreign Lenders

China's financial authorities are currently in the process of finalising the country's first ever regulations on exclusively online banking operations, according to...

Jack Ma’s MYBank Grabs Greenlight for First Share Capital Increase

Ant Financial-backed online lender MYBank plans to raise funds via its first increase in share capital according to official documents.

China Merchants Bank and’s Fintech Vehicle Prepare to Launch Direct Online Lender

A leading Chinese commercial bank and the fintech vehicle of are currently working together to launch a new online direct bank...

Sichuan Online Lender XWBank Sees 224% YoY Surge in Net Profits

Sichuan-based online lender XWBank has posted a YoY surge in net profits in the first half of 2019.

MYBank Expected to Increase Capital to 10B Yuan with Ant Financial’s Assistance

Alibaba-backed online lender MYBank (网商银行) is reportedly planning its first capital increase in the four years since its founding.

Online Banks Outperform China’s Conventional Lenders in 2018

The latest financial reports of China's online banks points to a bumper year in 2018, far outpacing the performance of listed domestic...

51 Credit Card Enters Comprehensive Strategic Cooperation with CITIC aiBank, Releases “T+” Plan

Chinese credit card company 51 Credit Card (51信用卡) is teaming up with Baidu-backed direct lender CITIC aiBank (百信银行) to cooperate on fintech...

Ant Financial’s MYBank Commits to Being “Idiotic” about Financial Inclusion Following Low Profits in 2018

Online lender MYBank has attributed its poor profit performance in 2018 to efforts to expand financial inclusion for micro and small enterprises...

Bank of Hangzhou’s Direct Banking Clients Surge 113.69% in 2018

Municipal lender Bank of Hangzhou posted a surge in its direct banking clients in 2018.

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Anhui Province Undertakes Trial Scheme for SME Emergency Loans to Enteprises Affected by COVID-19 and Flooding

The inland Chinese province of Anhui has announced the start of a trial scheme for the provision of emergency loans to local...

ByteDance Establishes Artificial Intelligence Subsidiary in Fujian Province

ByteDance, the company behind social media giant TikTok, has just established a tech subsidiary in Fujian province whose business scope includes artificial...

Alibaba Unveils Plan for Greater Digitisation of Cross-border Trade

Chinese e-commerce giant Alibaba has unveiled an ambitious new plans to support the use of e-commerce by small businesses.

Lending to Private Enterprise Increases 5.4 Trillion Yuan During Jan – Sep Period: CBIRC

The latest data from the China Banking and Insurance Regulatory Commission (CBIRC) points to a sizeable increase in lending to private enterprises...