Ping An Bank Co.,Ltd. has announced a related-party transaction approved by its board of directors. The bank plans to enter into a structured deposit business cooperation with its controlling shareholder, Ping An Insurance (Group) Company Of China, Ltd. The deposit principal will not exceed the equivalent of 40 billion yuan, covering currencies including RMB, Hong Kong dollars, and US dollars. The cooperation period is set for one year, with total interest not exceeding the equivalent of 250 million yuan.
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