Two SPDB Rural Banks in Chongqing Approved for Dissolution, Assets to Be Assumed by SPDB

Deep News12-19 20:00

On December 19, the Chongqing Financial Regulatory Bureau issued approvals for the dissolution of two rural banks: Chongqing Banan SPDB Rural Bank Co., Ltd. and Chongqing Tongliang SPDB Rural Bank Co., Ltd.

All assets, liabilities, businesses, employees, and other rights and obligations of these banks will be transferred to and assumed by Shanghai Pudong Development Bank Co., Ltd. (SPDB).

The regulatory decision marks the consolidation of these rural banking operations under SPDB's direct management.

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