Thursday, April 15, 2021
Tags Chinese direct banking

Tag: Chinese direct banking

Postal Savings Bank of China Plans to Launch China’s Third Online Direct Bank

One of China's big six state-owned lenders has flagged plans to launch what will be the country's third online direct bank that...

Online Lender CITIC aiBank Receives 2 Billion Yuan Investment from China CITIC Bank

Baidu-backed online lender CITIC aiBank has just received a major capital infusion from key investor China CITIC Bank.

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 JD.com’s Fintech Vehicle Prepare to Launch Direct Online Lender

A leading Chinese commercial bank and the fintech vehicle of JD.com 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...

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Chinese Central Bank Appoints 48 Year-old Deputy Mayor of Chongqing as New Deputy Governor

The People's Bank of China (PBOC) has just expanded its senior leadership cohort with the addition of a new deputy governor drawn...

Beijing Cracks Down on Local Finance Platforms, Demands “Peeling Away” of Government Funding Role, Bankruptcies for Insolvent Firms

The State Council of China has issued new regulations concerning the handling of local finance platforms in a bid to stymie their...

Chinese CPI Bounces Back into Positive Territory in March

China's consumer price index (CPI) resumed positive YoY growth in March, as the domestic economy continues to recover from the impacts of...

Renminbi Lending Increases USD$1.17 Trillion in First Quarter of 2021

Chinese banks extended over USD$1.1 trillion in new loans in the first quarter of 2021 according to the latest data from the...