Global International Credit Group Limited Launches Personal Loans, Acquires Note

Global International Credit Group Limited (GIC), a licensed money lender in Hong Kong, has introduced a personal loan service and acquired a Convertible Promissory Note worth RMB200 million from Quark, a Chinese peer-to-peer lending company. These developments coincide with the company's first anniversary of listing on the Stock Exchange of Hong Kong.

The company reported significant growth in its mortgage loan business since its December 2014 listing. In the first half of 2015, profit attributable to owners increased by over 110% year-on-year, reaching approximately HK$25.5 million. This performance prompted the expansion into personal lending.

GIC's new personal loans offer amounts up to HK$300,000 for individuals, with potential limits of HK$600,000 for property owners and professionals such as doctors and lawyers. Loan repayment terms range from 6 to 72 installments, with applications processed online 24 hours a day.

The acquisition of the note from Quark, which specializes in IT-driven financial services in China, is intended to support GIC's expansion into non-banking financial areas in China and the development of its online platform, including potential P2P lending.