Date
22 April 2018

Tencent says no plan to directly seek bank license, Sina reports

Tencent Holdings Ltd. (00700.HK), China’s largest listed internet firm, said on Thursday that it has no plan to directly apply for a private bank license in China, news portal Sina.com reported Thursday. The company said in a statement that it is a minority stakeholder in a consortium that is seeking to apply for a private bank license to offer online banking services, and that it aims to complement the service offerings with its online platform and interface. The clarification was made at the request of Hong Kong Exchanges and Clearing Ltd. Media reports earlier suggested that several enterprises, including Tencent, Suning and Alibaba Group, are in the process of applying for a bank license.

– Contact HKEJ at [email protected]

EL/AC/RC

 

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