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Stock impact report

FinVolution Subsidiary AdaKami Enters into Strategic Funding Agreement with PT Super Bank, Indonesia

FinVolution Group American Depositary Shares (FINV) 
Company Research Source: PR Newswire
SHANGHAI, Oct. 29, 2024 /PRNewswire/ -- FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform, today announced that its Indonesian financial application, AdaKami, has entered into a strategic funding agreement with PT Super Bank Indonesia, a leading digital-focused bank in Indonesia.Under the terms of the agreement, Superbank will provide AdaKami with a funding facility of 500.0 billion Rupiah (approximately US$32.0 million). This funding arrangement highlights AdaKami's recognition by a leading local bank following its successful transition to serving better-quality borrowers. With this agreement, Superbank will become AdaKami's strong funding partner in Indonesia, validating Adakami's successful strategy of transition to better-quality borrowers. Currently, AdaKami has established cooperation with multiple lenders including Superbank, Seabank, Bank Jago, Bank Permata, OCBC NISP among others.Mr. Tiezheng Li, Vice Chairman and Chief Executive Off Show less Read more
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