MYBank to serve 2,000 rural Chinese counties by 2025

Tuesday 4 May 2021 13:08 CET | News

MYBank, the online bank backed by China's Ant Group has announced aiming to serve 2,000 rural Chinese counties by 2025.

MYBank also said it had served more than 35 million small and medium-sized enterprises (SMEs) at the end of 2020, a 70% increase year on year.

The bank, which was founded in 2015, said it kept a non-performing loan ratio at 1.52%, compared to the average of 2.99% ratio in China for SME loans as of June 2020.

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Keywords: online banking, SMEs, expansion
Categories: Banking & Fintech | Online & Mobile Banking
Countries: China
This article is part of category

Banking & Fintech