Ant Financial Services owns 30 per cent of MYBank. Photo: Xinhua
Ant Financial Services owns 30 per cent of MYBank. Photo: Xinhua
Banking & finance
Business /  Banking & Finance

Jack Ma’s US$290 billion loan machine at MYbank is changing Chinese banking, in a harbinger of the financial industry’s revolution

  • MYbank has lent 2 trillion yuan to nearly 16 million small companies, with a default rate of 1 per cent

Bloomberg
Bloomberg

Updated: 1:55pm, 29 Jul, 2019

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Ant Financial Services owns 30 per cent of MYBank. Photo: Xinhua
Ant Financial Services owns 30 per cent of MYBank. Photo: Xinhua
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