Trends Report

Q&A: Decoding Hong Kong’s Digital-Only Banks — Ping An OneConnect Bank

How Ping An OneConnect Bank Carved Out A Niche Among SMBs In Hong Kong

April 28th, 2022
Meng Liu, Senior Analyst
Meng Liu Senior Analyst
Nancy Lin, null
Nancy Lin
With contributors:
Frederic Giron , Pushpa Marwal , Tianchen Feng , Bill Nagel

Summary

Ping An OneConnect Bank (PAOB) launched in Hong Kong in September 2020. This new digital-only bank is a wholly owned subsidiary of OneConnect, a fintech platform started by the Ping An Group in 2015 to serve small and midsize financial institutions in China. PAOB has stayed true to its fintech roots, focusing on serving small and medium-size businesses (SMBs) in Hong Kong’s import/export and wholesale trade sector.

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