MYbank gets green light to open
Print Edition
CHINA has approved the opening of Alibaba-backed Internet bank “MYbank,” in the latest development of a pilot program to bring in private players in the state-dominated sector.
MYbank, mainly funded by Zhejiang Ant Small and Micro Financial Services Co owned by Alibaba Chairman Jack Ma and his colleagues, has a registered capital of 4 billion yuan (US645 million), according to the approval document by the Zhejiang Banking Regulatory Commission.
Other founders include Shanghai-based conglomerate Fosun Group, China’s largest auto parts supplier Wanxiang Group and Ningbo Jinrun Asset Management Co.
MYbank will focus on financial services for small and micro business, as well as online consumers through the Internet. No physical branches will be opened, according to the document.
Specifically, the bank will target financial products for deposits below 200,000 yuan and loans of less than 5 million yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
