Another Case of "Village Bank Conversion": SPD Bank's Tianjin Baodi Branch Approved to Open

Deep News12-19 20:11

On December 19, the Tianjin financial regulator issued an approval for the dissolution of Tianjin Baodi SPD Rural Bank Co., Ltd. All its business operations, assets, liabilities, and other rights and obligations will be assumed by Shanghai Pudong Development Bank Co., Ltd. (SPD Bank). The approval requires the rural bank to immediately cease all business activities, surrender its license to the Tianjin financial regulator within 15 working days, and complete relevant procedures in accordance with applicable laws and regulations.

In a separate approval, the regulator granted permission for SPD Bank's Tianjin Baodi Branch to commence operations. The new branch will be located at No. 159 Nanguan Street, Baodi District, Tianjin.

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