trending Market Intelligence /marketintelligence/en/news-insights/trending/ra2bjLG_54aa3OUyCelxyA2 content esgSubNav
In This List

China's FinVolution Group acquires stake in Fujian Haixia Bank

Blog

Banking Essentials Newsletter: 17th April Edition

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


China's FinVolution Group acquires stake in Fujian Haixia Bank

Chinese fintech platform FinVolution Group, formerly known as PPDAI Group, acquired a minority stake in Fujian Haixia Bank Co. Ltd. and entered into a consumer finance partnership with the bank.

FinVolution said it purchased 281 million newly issued shares of the bank, or an approximately 4.99% stake, pursuant to a share-purchase agreement. The company did not disclose financial details of the agreement.

Further, concurrent with the equity investment, FinVolution and Fujian Haixia Bank agreed to partner on consumer finance to enhance operating efficiencies, expand markets and bolster operational capabilities.