- Peak Fintech Group (PKK) subsidiary, Asia Synergy Financial Capital (ASFC) has received a prestigious government credit rating
- The Financial Supervisory Administration Bureau of Jiangsu Province (JSJRB) awarded ASFC an A credit rating
- ASFC was one of only two non-bank lending institutions in the province to earn the government’s A credit rating
- The subsidiary has credited Peak Fintech’s Lending Hub platform as a major factor in this achievement
- Peak Fintech Group is up 6.10 per cent and is currently trading for $1.74 per share
Peak Fintech Group (PKK) subsidiary, Asia Synergy Financial Capital (ASFC) has received a prestigious government credit rating.
The Financial Supervisory Administration Bureau of Jiangsu Province (JSJRB) awarded ASFC with an A credit rating. The JSJRB has been performing yearly audits of the financial institutions in the Chinese province of Jiangsu, in order to ensure compliance with newly enacted regulations.
During the audit, the JSJRB examined ASFC’s internal control systems, corporate governance structure, risk control systems, loan default rate, and other aspects of its business operations.
Thus far, ASFC has loaned almost C$90 million, with less than 0.12 per cent resulting in actual default where the principal amount of the loan wasn’t paid back.
ASFC was one of only two non-bank lending institutions in the province to earn the government’s A credit rating. This makes the subsidiary one of the top-rated lending institutions in the entire province.
ASFC’s CEO, Changsheng Zhuo, credited Peak Fintech’s Lending Hub platform with the company’s accomplishment of the excellent credit rating.
“We’ve been using the platform since our operations began in mid-2018, and in doing so are helping prove the positive impact that analytics and AI can have on the lending industry,” he said.
“The fact that ASFC is now publicly recognised by the JSJRB as one of the top lending institutions in the province should no doubt help Peak attract more banks and lending institutions to join the Lending Hub ecosystem,” he added.
Peak Fintech Group is up 6.10 per cent and trading for C$1.74 per share, as of 2:18pm EST.