Ant Digital Bank Expands in Singapore With Small Business Loans

Ant is accelerating digital bank operations in Southeast Asia, replicating strategies in China that catapulted its fintech operations to the country’s biggest.

(Bloomberg) — Ant Group Co.’s Singapore digital wholesale bank will start offering loans to small and medium-sized businesses as the Chinese fintech giant extends its reach in the city-state.

ANEXT Bank, which started services in June, said it will give smaller companies loans ranging from S$5,000 to S$100,000 ($3,537 to $70,749). Customers can also apply for ANEXT Bank’s loans via IN Financial Technologies and Bizmann System.