Комментарии 0
...комментариев пока нет
Tencent-backed online lender WeBank gets green light to set up fintech unit in Hong Kong
The digital bank’s expansion reflects efforts between southern tech hub Shenzhen and Hong Kong to boost economic integration, as part of the broader Greater Bay Area initiative.
A notice published by the Shenzhen municipal government in July last year encouraged financial institutions in the Qianhai economic zone to establish fintech subsidiaries in Hong Kong.
WeBank was one of the organisations behind the Shenzhen-Hong Kong cross-border data-verification platform launched in December last year. This aims to help businesses verify cross-border data based on WeBank’s FISCO BCOS blockchain platform.
Launched in 2014, WeBank was formed by Tencent and several Chinese companies. It has rapidly expanded over the years to become country’s biggest online-only lender.
WeBank is also one of the world’s biggest private companies, with a current valuation of 235 billion yuan (US$32.4 billion), according to a report published by the Hurun Research Institute in April about unicorns – start-ups valued at more than US$1 billion. The report ranked WeBank as the world’s 10th largest unicorn in 2024.
The online lender last year reported 39.3 billion yuan in revenue, up 11.3 per cent from 2022, and a net profit of 10.8 billion yuan, a 21-per cent improvement from the previous year.
WeBank held 535.5 billion yuan worth of assets at the end of last year, a 13 per cent year-on-year increase, according to its latest annual report.