China’s Ant Group Mulling Creation Of New Consumer Loan Unit
PYMNTS
JANUARY 7, 2021
Creation of the new unit would be part of a much larger overhaul of the financial technology company and subject to approval by Chinese authorities, who pulled the plug on the company’s massive initial public offering late last year, according to Bloomberg. Ant Group had $263 billion in outstanding consumer loans as of June 2020.
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