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| Introduces New Personal Loans Completes Note Purchase Agreement with Quark |
HONG KONG, Dec 30, 2015 - (ACN Newswire) - Global International Credit Group Limited ("GIC" or the "Group") (stock code: 1669), one of the leading licensed money lenders in Hong Kong, recently celebrated its 1st listing anniversary on the main board of the Stock Exchange of Hong Kong Limited ("SEHK"). The Group's business also reached an important milestone on this memorable occasion as it introduced the personal loan business in December 2015, which diversified the product portfolio and further expanded its customer base. Also, the Group recently completed the purchase of a Convertible Promissory Note in the principal amount of RMB200 million from Quark, a P2P credit company from China. The completion of the purchase agreement is an important step towards the Group's target to expand its business into the non-banking financial area in China.
Since its successful listing on the main board of the SEHK on December 12 2014, GIC has been actively expanding its mortgage loan business and achieving outstanding results. In the first half of 2015, profit attributable to owners of the Company surged by over 110% year-on-year to approximately HK$25.5 million. Such outstanding results coupled with the first listing anniversary have prompted GIC to launch the personal loan business, allowing the Group to further expand its business and explore new opportunities in the market.
GIC's personal loans are designed for individuals in need of cash for personal use. The maximum loan amount can be up to HK$300,000, while property owners and professionals such as doctors, solicitors, engineers, teachers, and bank staff may be granted loans of up to HK$600,000. In addition, applicants can elect to repay their loans from 6 to 72 installments. The personal loan service operates 24 hours a day and the entire application can be processed online, with transmission of information secured through encryption.
Quark is principally engaged in non-banking financial services business that leverages information technology and data analytics technology to provide and facilitate accumulation, distribution and management of credit in China through P2P and other scalable business models.
Ms. Wang Yao, Chairman, Chief Executive and Executive Director of GIC, said, "The introduction of the personal loan business is the start of a new chapter in GIC's development. With our ample experience accumulated in the mortgage loan business over the years, our diversified products and services, as well as our prudent and effective approach in lending, we believe GIC will remain highly competitive. In the future, the Group will continue to expand its business scope, which includes further study in the development of its online platform, particularly the potential of P2P loan business, and explore the tremendous opportunities in the China market, completing the note purchase agreement with Quark is an important step of expanding our business to new areas."
Contact:
Strategic Financial Relations Limited
Heidi So +852 2864 4826 heidi.so@sprg.com.hk
Jovanni Cai +852 2114 4937 jovanni.cai@sprg.com.hk
Antonio Yu +852 2114 4319 antonio.yu@sprg.com.hk
Fax +852 2527 1196
Website www.sprg.com.hk
Topic: Press release summary
Source: Global International Credit Group Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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