Two digital banks backed by Ant Group and Tencent Holdings reported a rise in bad loans and slower growth of their balance sheets but also posted higher profits and healthy liquidity metrics. Ant Group-backed MYbank said its nonperforming loan ratio for 2022 was 1.94%, up 0.41 of a percentage point from the previous year. That was still lower than the average ratio of 2.18% for small and midsize enterprise loans in China, according to the online lender's annual report.

https://www.caixinglobal.com/2023-05-03/top-chinese-digital-banks-report-more-bad-loans-but-higher-earnings-102041890.html

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