On November 14, China Everbright Bank Company Limited announced the approval of a cumulative asset transfer quota of RMB 3 billion for Everbright Jinao Asset Management Co., Ltd. The quota will be valid for three years, with single transactions and annual cumulative amounts capped at RMB 1 billion, and the total three-year transactions not exceeding RMB 3 billion.
The approved business types include non-performing asset transfers and collateral asset transfers. Everbright Jinao is a legal entity directly controlled by China Everbright Group, the bank’s controlling shareholder, making this transaction an affiliated one.
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