JD.com (HKG:9618) completed its acquisition of Home Credit Consumer Finance, marking its entry into the ranks of major Chinese internet firms with a national consumer finance license, alongside Alibaba and Baidu, YiCai Global reported Thursday.
In 2024, two JD.com subsidiaries agreed to acquire a 65% stake in Home Credit Consumer Finance for 3.3 billion yuan, according to the report.
Home Credit Consumer Finance, renamed Tianjin Jingdong Consumer Finance, gives JD.com a regulatory green light to expand its financial services, YiCai Global wrote.
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