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China Transinfo Technology : Ant to boost consumer finance unit capital as it restructures micro-lending - sources

China s Ant to boost consumer finance unit capital as it restructures micro-lending: sources | WSAU News/Talk 550 AM · 99 9 FM

By Syndicated Content By Julie Zhu HONG KONG (Reuters) - China s Ant Group is in talks with other shareholders in its new consumer finance unit to bolster the firm s capital as the fintech giant prepares to fold in its lucrative micro-lending businesses, people familiar with the matter said. It would need additional capital of 30 billion yuan ($4.6 billion) to meet regulatory requirements, said one of the people who has direct knowledge of the plans. Ant plans to bring most of its micro-lending businesses into the unit - equivalent to roughly 1 trillion yuan ($155 billion) in outstanding loans - a move which will allow it to maintain operations nationwide and expand more easily, said two sources.

Britain s Sainsbury s gives staff third pandemic bonus

Britain s Sainsbury s gives staff third pandemic bonus
globalbankingandfinance.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globalbankingandfinance.com Daily Mail and Mail on Sunday newspapers.

China s Ant to boost consumer finance unit capital as it restructures micro-lending: sources

China s Ant to boost consumer finance unit capital as it restructures micro-lending: sources
channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.

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