Date
18 August 2017

Merchants Bank P2P business stopped, paper says

Regulators have suspended China Merchants Bank Co. Ltd.’s (600036.CN) peer-to-peer lending business after two months of operation, the 21st Century Business Herald reported Tuesday, citing an unnamed source. The business was halted in November, possibly over the lender’s role as a guarantor via bank payment vouchers, the report said. For a small service fee, the peer-to-peer websites connect people wanting to invest money with those looking to borrow small amounts. Banks are required to only act as an intermediary, according to the report.

– Contact HKEJ at [email protected]

KZ/AC/SK

 

 

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