Livi Bank

Apr 30, 2023

livi bank: still in the investment stage Livi Bank explained that the loss has expanded and reached more than 700 million yuan, which is related to the fact that it is still in the investment stage, but it emphasizes that with the continuous growth of the loan product portfolio, it will drive considerable income growth. As of the end of last year, the loan product balance recorded more than 1.3 billion yuan. In addition to expanding its retail business, the bank launched a commercial bank for the first time this year. As of March 14 this year, it had more than 600 customers, and revealed that it is ready to expand its business in the Greater Bay Area at any time. As for Mox Bank, which is second only to livi bank in terms of losses, and is composed of Standard Chartered (Hong Kong), PCCW (0008) and Hong Kong Telecom, etc., benefiting from the expansion of its customer base, while investing in technology and talents, and improving its products and services, The loss has narrowed, but still reached 631 million yuan. 6 virtual silver losses narrowed Mox currently has more than 400,000 customers, deposits and loans of more than 8 billion yuan and 5 billion yuan respectively, and focuses on expanding bank card and digital lending services. In addition, the loss of Furong Bank during the year reached 532 million yuan, an increase of more than 22% year-on-year. As for ZhongAn Bank, which has the largest balance sheet, benefited from factors such as net interest and net fee income which increased by 1.21 times and 55% year-on-year respectively during the period, its loss decreased by 9.59% year-on-year to 498 million yuan. Its customer deposits and loans reached 9.171 billion yuan and 4.88 billion yuan respectively. During the period, the bank further consolidated its bancassurance business, while its wealth management business gradually took shape. In terms of other virtual banks, the four banks of Huili, Ant, Tianxing and Ping An OneConnect suffered losses of 458 million yuan, 203 million yuan, 199 million yuan and 157 million yuan respectively. 2023-04-28 20:41:50