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Regulator bans Zhejiang bank from wooing depositors with Labubu dolls
The Straits Times
|June 11, 2025
A Chinese lender's stunt to woo depositors with gifts including the wildly popular Labubu dolls has been barred by financial regulators, underscoring the increasingly fraught battle among banks for customers as interest rates and profit margins fall.
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BEIJING — A Chinese lender's stunt to woo depositors with gifts including the wildly popular Labubu dolls has been barred by financial regulators, underscoring the increasingly fraught battle among banks for customers as interest rates and profit margins fall.
The Zhejiang branch of the National Financial Regulatory Administration has asked local banks to refrain from giving non-compliant perks to attract deposits, according to people familiar with the matter.
This story is from the June 11, 2025 edition of The Straits Times.
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