Financial Reference | Ningyin Consumer Finance Caught in Complaints Controversy, Accused of Violent Collection Tactics and Usurious Lending

Source: Taishan Finance

Taishan Finance Reporter Jing Ming

Personal consumer loans are originally financial tools to help residents spend reasonably and boost domestic demand. However, Zhejiang Ningyin Consumer Finance Co., Ltd. (hereinafter referred to as “Ningyin Consumer Finance”), which is wholly owned by Ningbo Bank, has been complained about by consumers for issues such as illegal collection and privacy leaks. Its parent company, Ningbo Bank, is also embroiled in a trust and credit crisis due to high-interest lending and violent collection practices linked to its joint lending platforms.

Recently, Miss Qiu, working in Ningbo, Zhejiang, became a victim of improper collection by Ningyin Consumer Finance. This incident has sparked public discussion. It is reported that in August 2025, Miss Qiu borrowed 20,000 yuan through Ningyin Consumer Finance’s “Hui Ni Dai” with an annual interest rate of 4%, to be repaid in 12 installments. In January 2026, due to a job change, she defaulted, with remaining principal and interest of 11,914 yuan. Since then, she has continuously received calls from unknown numbers from different locations, as well as SMS messages from virtual numbers 1068/1069, including hints of home visits, and her phone has even been sent dozens of verification codes.

According to Miss Qiu, her parents and three friends she contacts regularly have also been harassed with similar collection calls. The collectors even defamed her credit and character to her relatives and friends, attempting to influence her credit report. Miss Qiu stated that she only left one friend as an emergency contact when borrowing and did not provide her parents’ information, suspecting her personal data was leaked by Ningyin Consumer Finance. After filing a complaint, she received a reply that “the collection is handled by a third-party agency and has nothing to do with the funder.” During the collection process, staff also induced her to borrow new loans from other online platforms to repay old ones.

Data from the Black Cat Complaint Platform shows that as of March 19, 2026, there have been 1,289 complaints related to Ningyin Consumer Finance, and complaints involving Ningbo Bank total 2,467. Consumers’ complaints mainly focus on violent third-party collection, intimidation and threats, privacy leaks, and high-interest loans issued through joint lending agencies.

Some consumers borrowed 8,000 yuan via “Juduoduo,” with the lender being Guomin Trust and the actual disbursing bank being Ningbo Bank. The annual interest rate reached 23.99%, just shy of the 24% judicial protection limit. Others borrowed 5,000 yuan on other online platforms, with a contract stating an annual interest rate of 5.9%, but after adding a 17.7% guarantee fee, the total financing cost reached 23.6%, with Ningbo Bank again serving as the disbursing bank.

According to information on Ningbo Bank’s official website, as of February 28, 2026, the bank cooperates with up to 134 internet loan service providers, including Ctrip and Meituan. These collaborations cover all aspects such as marketing and customer acquisition, guarantee and credit enhancement, joint funding, and post-loan collection.

In response to consumer complaints about violent collection and high loan rates, Taishan Finance sent an interview request to Ningyin Consumer Finance. As of press time, no reply has been received.

Financial data shows that among Ningbo Bank’s personal loan business, personal consumer loans have the highest proportion, with a continuously rising non-performing rate. As of the end of June 2025, the bank’s personal consumer loan balance was 345.243 billion yuan, accounting for 64.5% of total personal loans; the non-performing rate was 1.83%, up 0.22 percentage points from the end of 2024.

During the same period, the bank’s non-performing personal consumer loans amounted to 6.328 billion yuan, an increase of 580 million yuan from the end of 2024, accounting for 49.87% of the bank’s total non-performing loans. This indicates that nearly half of Ningbo Bank’s non-performing loans come from personal consumer loans, and its risk management in personal credit business faces severe challenges.

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