20 January 2019

Alibaba average loan under 40,000 yuan, paper says

Alibaba Small and Micro Financial Services Group, the microfinance unit of Alibaba Group, has outstanding loans of 160 billion yuan (US$26.38 billion) and a customer base of 650,000, Securities Times reported Friday. The average loan is under 40,000 yuan and the average credit amount for each customer is 130,000 yuan. Its non-performing loan ratio is below 1 percent, the report said. The company started operations less than four years ago.

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