China Minsheng Bank Receives Approval to Acquire Yidu Minsheng Village Bank and Establish Branch Outlets

Deep News09-30 17:31

On September 30, a financial news alert reported that the Yichang Regulatory Sub-bureau of the National Financial Regulatory Administration issued a approval regarding China Minsheng Banking Corp., Ltd. (ASX: 600016) acquiring Yidu Minsheng Village Bank Co., Ltd. and establishing branch outlets.

The approval permits the bank to acquire Yidu Minsheng Village Bank Co., Ltd. and establish the Yichang Yidu Sub-branch of China Minsheng Banking Corp., Ltd. (ASX: 600016), the Yichang Zhicheng Sub-branch of China Minsheng Banking Corp., Ltd. (ASX: 600016), and the Yichang Honghua Sub-branch of China Minsheng Banking Corp., Ltd. (ASX: 600016).

These new outlets will take over the assets, liabilities, business operations, and employees of Yidu Minsheng Village Bank Co., Ltd. following its asset verification and capital assessment.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment