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Ant Plans Credit Unit Overhaul to Avoid Sharp Drop in Loans

  • Restructuring would allow Ant to continue lending nationwide
  • Company had $263 billion of outstanding consumer loans in June
Bloomberg business news
Ant Plans Credit Unit Overhaul

Jack Ma’s Ant Group Co. is planning to restructure its consumer credit operations so the company can continue lending nationwide under new regulations that would otherwise threaten to dramatically restrict its most lucrative business, people familiar with the matter said.

The plan, which is preliminary and subject to regulatory feedback, is part of Ant’s sweeping reassessment of its corporate structure after Beijing scuttled the Chinese fintech giant’s $35 billion initial public offering in November.