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Alibaba's Internet lender extends $6.88b in loans in 8 months [Copy link] 中文

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Post time 2016-3-1 23:53:55 |Display all floors
Jack Ma(3rd from right), founder and chairman of China's e-commerce giant Alibaba, attends the opening ceremony of MYbank in Hangzhou, capital of East China's Zhejiang province, June 25, 2105. MYbank has a registered capital of 4 billion yuan ($655 million). The bank will center on financial services for small and micro business, as well as online consumers through the Internet platform. [Photo/Xi ...

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Post time 2016-3-1 23:54:07 |Display all floors
The law of large numbers works in favor of internet banks. Just like credit cards, internet banks spread their risks over a large customer base.

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