A person familiar with the matter revealed that Ant Group is considering selling shares of its Hong Kong virtual banking business, which is the latest measure of the financial technology giant reorganization business.
Bloomberg News Friday (May 5) quoted anonymous insiders that Ant Bank (Hong Kong) Co., Ltd. is in contact with potential investors to enhance business, but it is currently only in the preliminary plan.
According to the annual report, Ant Bank (Hong Kong) lost about HK $ 232 million in 2021 (the same below, about S $ 39 million).As of December of that year, the total loan repayment was HK $ 545,000 and the total deposit was HK $ 741 million.
It is understood that Ant Bank (Hong Kong) is one of the eight virtual banks approved by the Hong Kong Financial Administration in recent years. Competitors include Za Bank LTD. and Huili Bank Co., Ltd.Company (wlab bank LTD.).
Ant Bank (Hong Kong) parent company Ant Group is carrying out the overall business reorganization to meet China's regulatory requirements.China Regulatory Officials had an emergency stopping of Ant Group to go public in 2020.
Ant Group established a wholly -owned subsidiary in August 2018, and received bank license approval in May the following year.Ma Yun said in January this year that he would give up his control over the Ant Group, and he held about 6.2%of the voting rights after making this decision.
