Ant Group's consumer lending arm plans to boost registered capital to $625m

Ant Group's consumer lending arm plans to boost registered capital to $625m

FILE PHOTO: Ant Group sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo

Ant Group Co. Ltd.’s consumer lending subsidiary plans to boost its registered capital to 23 billion yuan ($3.2 billion), in a bid to speed up the completion of the fintech giant’s years-long, government-driven overhaul.