Hong Kong virtual bank WeLab has completed its restructuring, and WeLend is now a wholly-owned subsidiary of WeLab Bank

2024-06-20 13:23:23

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ChainCatcher news, WeLab founder and Group CEO Ronny Tong stated that the corporate restructuring has been completed, and WeLend is now a wholly-owned subsidiary of WeLab Bank, planning to expand its business in Hong Kong to the next growth stage.

WeLab Bank CEO Li Ka Tat stated that they are accelerating business planning and enhancing profitability, currently serving over 650,000 users, and expect to generate an additional HKD 800 million in net profit over the next five years, with hopes of achieving profitability by 2025.

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