Northern Consumer Finance

Northern Consumer Finance Company was established on March 1, 2010. It is a non-bank financial institution specializing in consumer finance that was among the first batch approved for preparation by the China Banking Regulatory Commission and the first to be approved for operation. In its early stage, it was solely funded by Bank of Beijing with a capital injection of 300 million yuan, providing personal loans for consumption purposes to residents within China.
In June 2013, Northern Consumer Finance Company completed its capital increase and intellectual introduction. It successfully introduced Spain's Santander Consumer Finance, as well as domestic well-known private enterprises such as Lishi Group, Legend Holdings, and Dalian Wanda, bringing the number of shareholders to 10 and increasing the registered capital to 850 million yuan, making it the first consumer finance company in China to undergo capital introduction and restructuring.
By the end of 2013, the company's loan balance exceeded 6 billion yuan, and the number of customers exceeded 160,000. It has formed business characteristics such as market-oriented products, diversified channels, professional approval, and convenient services, making positive contributions in promoting resident consumption, improving people's lives, and cultivating credit awareness.