Bank of Zhengzhou Receives Regulatory Approval to Abolish Board of Supervisors

Reuters11-11
Bank of Zhengzhou Receives Regulatory Approval to Abolish Board of Supervisors

Bank of Zhengzhou Co. Ltd. has announced that it has received regulatory approval from the Henan Financial Regulatory Bureau for amendments to its articles of association, which include the abolishment of its board of supervisors. Following the approval, effective from the date granted, the bank will no longer establish a board of supervisors or its special committees. Instead, the audit committee of the board will assume the powers previously exercised by the board of supervisors in accordance with relevant laws and regulations. No other organizations are mentioned as recipients of this approval.

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