Two private banks get nod

AT A GLANCE

THE FIVE RECENTLY APPROVED PRIVATE BANKS:

Jincheng Bank

Location: Tianjin

Registered capital: 5 billion yuan

Major shareholders:

Tianjin Huabei Group (20%)

Maigou (Tianjin) Group (18%)

Specializes in: Local corporate clients

Minshang Bank

Location: Wenzhou, Zhejiang

Registered capital: 2 billion yuan

Major shareholders:

Chint Group Corp (29%)

Huafeng Group (20%)

Specializes in:

Small enterprises, individually owned businesses, community residents and county-level rural financial services

Webank

Location: Qianhai Bay Economic Zone in Shenzhen, Guangdong

Registered capital: 3 billion yuan

Major shareholders:

Tencent Holdings (30%)

Shenzhen Liye Group (20%)

Shenzhen Baiyetuan Investment (20%)

Specializes in:

Micro and small enterprises, individual consumers

MYbank

Location: Hangzhou, Zhejiang

Registered capital: 4 billion yuan

Major shareholders:

Zhejiang Ant Small & Micro Financial Services Group (30%), finance arm of Alibaba Group Holding

Shanghai Fosun Industrial Technology Development (25%)

Wanxiang Sannong Group (18%)

Ningbo Jinrun Asset Management (16%)

Specializes in:

Micro and small e-commerce enterprises, individual consumers, 200,000 yuan and below deposit products, 5 million yuan and below loans

Shanghai Huarui Bank

Location: Shanghai

Registered capital: N/A

Major shareholders:

Juneyao Group (30%)

Shanghai Metersbonwe Fashion and Accessories Co Ltd (15%)

Specializes in:

Small and medium enterprises

Private banks in the works	Private banks to be on the rise

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