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[News] Xiaomi Marches Into Banking Industry!

2016-06-14 11:56:27
10596 54

Xiaomi Corp is stepping into the banking industry, marked by its wholly-owned Sichuan subsidiary's application to start a bank receiving approval from the China Banking Regulatory Commission (CBRC).

The subsidiary, Sichuan Yinmi Technology Co, along with New Hope Group, Chengdu HongQi Chain Store Co and other five Sichuan companies, will open Sichuan's first private bank - Sichuan Hope Bank, with 3 billion yuan in registered capital. The three main founding members subscribed 29.5 percent, 30 percent and 15 percent of the shares respectively, according to Securities Times.

A New Hope Group official said that the bank aims to provide inclusive financial services available any time and everywhere, taking full advantage of the founders' industry resources and internet technology.

The bank also aims to provide consumers, small and medium enterprises and farmers various financial products.

The country has initiated the second round of private banks' founding. According to previous media reports, the set-up of Chongqing Fumin Bank, founded by Hanhua Financial Holdings and classified as private bank, was approved by the CBRC. The set-up of Zhongguancun Bank is also underway, with private companies intending to organize it.

Do you want Xiaomi to provide loans in India?


Number of participants 4 Experience +8 Pack Reason

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2016-06-14 11:56:27
Favorites5 RateRate
Wow Now a new milestone will be added to mi kitty MI BANK PVT LTD
2016-06-14 23:47:58
Always Help Others & God will Help u
Proud Owner Of REDMI NOTE 3
Woww awesome
2016-06-15 00:05:54
**I love Mi community India**
A move beyond ordinary.  Great move and good luck for new M's Bank
2016-06-15 00:16:51


Whoa! Congrats on the new milestone :)
2016-06-15 02:21:25
Good Luck to Mi Bank.
2016-06-15 02:31:35
Only for mi super fans
2016-06-15 02:57:54
Thanks for this info Bro...
2016-06-15 03:24:49
Good news.
2016-06-16 07:18:53
Thanks for info
2016-06-18 16:16:28

Pro Bunny

Shuhail Basheer | from mobile


Where can get the form for loan application in Mi Bank..??
2016-06-18 19:13:36
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