BANK OF TIANJIN plans to invest 500 million yuan in Jiexin Consumer Finance
Bank of Tianjin announced that it will invest 500 million yuan in Home Credit Consumer Finance. The bank has signed agreements with multiple companies to expand its inclusive finance customer base, enhance its development capabilities, and maintain an advantage in market competition. The board of directors believes that the terms of the agreement are fair and reasonable, in line with the overall interests
According to the announcement from Tianjin Bank (01578), on December 20, 2024, the bank signed an agreement with Guangzhou Jingdong Trading Co., Ltd., Online Banking Online (Beijing) Business Service Co., Ltd., China Foreign Economic and Trade Trust Co., Ltd., Tianjin Economic and Technological Development Zone State-owned Assets Management Co., Ltd., Home Credit N.V., and Jiefin Consumer Finance. According to this agreement, the bank will invest RMB 500 million in Jiefin Consumer Finance (Jiefin Consumer Finance Co., Ltd.).
The announcement stated that investing in Jiefin Consumer Finance is beneficial for the bank to expand its inclusive finance customer base, enhance its inclusive finance development capabilities, promote mutual advancement and collaborative development with other investors in the new development pattern, advance specialized market-oriented operations, innovate financial products, and improve profitability, which will help the bank maintain its competitive advantage and achieve sustainable development in the fierce market competition. Therefore, the board believes that the terms of the agreement are fair and reasonable and in the overall interest of the bank and its shareholders
