China's first batch of five private banks approved by the regulators last year, including the Tencent-backed Webank, Shanghai Huarui Bank Co., Ltd., and Wenzhou Minshang Bank Co., Ltd., have seen their assets exceed the gauge of 50 billion yuan, reported the Xinhua-run cnstock.com. Specifically, Shenzhen-based Webank has granted loans of over 4 billion yuan to date, and the loans from Alibaba-backed Internet bank "MYbank" have exceeded 3 billion yuan.
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