At the “6th Financial Annual Conference” sponsored by The Economic Observer and the economic observer media held on December 14, Bank of Hangzhou Consumer Finance Co Ltd (hereinafter referred to as BHCF) was named “Leading Consumer Finance Company of the Year” on the basis of its outstanding performance in 2020.

As the sole licensed consumer finance company in Zhejiang Province, BHCF has registered capital of RMB1.26 billion, outstripping the industry average. With total assets of more than RMB20 billion, it is ranked among the Top 10 in the industry. The Company’s business has grown rapidly in recent years, and its industry reputation is also in the ascendant. The growth rates of both its operating revenue and net profit are ranked among the Top 5 in the industry. Net profit of the Company amounted to RMB115 million in 2019, and is forecast to increase by more than 100% year-on-year in 2020.

By end-2020, BHCF is forecast to have served more than 10 million people in aggregate, and pay total taxes of more than RMB300 million. The Company will take the initiative to assume more social responsibility going forward, and will provide consumers with better and more user-friendly new experiences in consumer living.