Lufax building ebank ahead of IPO

In an exclusive interview, Lufax CEO Gregory Gibb explains how the company has a golden opportunity to offer more online-to-offline services to China's growing middle class.
Gregory Gibb, chairman and chief executive of Lufax, speaks at the 2016 Asian Financial Forum in Hong Kong.
Gregory Gibb, chairman and chief executive of Lufax, speaks at the 2016 Asian Financial Forum in Hong Kong.

Chinese peer-to-peer lender Lufax will use its newly raised $1.2 billion of additional funding not just to boost its lending capacity but also to connect more online investors with offline services, ahead of a planned initial public offering that could fetch more than $5 billion.

In an exclusive interview with FinanceAsia on Tuesday, Lufax chief executive officer Gregory Gibb said the Shanghai-based company has massive scope to tap into the aspirations and wealth of China's rising middle-class. 

With Chinese investors increasingly scanning overseas and domestic markets bedevilled by low-yielding deposits, volatile shares, and risky trust or wealth management...

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