trending Market Intelligence /marketintelligence/en/news-insights/trending/c-ougq23tyqvtlcqvl3vjq2 content esgSubNav
In This List

Home Credit, PAG Asia Capital end China expansion partnership

Blog

Technology & Automation Insights: Elevating KYC and onboarding efficiency

Blog

Data Insights: Enhancing regulatory compliance and client lifecycle management.

Blog

Banking Essentials Newsletter: 17th April Edition

Blog

Banking Essentials Newsletter: 7th February Edition


Home Credit, PAG Asia Capital end China expansion partnership

Netherlands-based consumer finance company Home Credit BV and private equity firm PAG Asia Capital have ended a partnership to develop the former's business in China, DealStreetAsia reported Sept. 7, citing Milan Tomanek, group head of public relations at Home Credit.

Further, PAG Asia Capital will no longer invest more than 2 billion Chinese yuan in Home Credit's Hong Kong-based subsidiary.

The two parties signed the partnership agreement in July 2017, and the long-term goal of the strategic partnership was to eventually list Home Credit China on an internationally recognized stock exchange.

As of Sept. 7, US$1 was equivalent to 6.84 Chinese yuan.