Bank of Gansu Offloads Non-Performing Assets

Bank of Gansu Co., Ltd. Class H (HK:2139) has released an update.

Bank of Gansu Co., Ltd. has announced the disposal of its non-performing assets, specifically Creditor’s Rights Assets worth approximately RMB329.64 million, through a public bidding process. Gansu Assets Management won the bid and entered into an agreement with the bank to purchase the assets for RMB52.61 million, in a move to alleviate the bank’s pressure from these underperforming assets. Although the transaction is connected due to shared ownership, it falls below the threshold requiring independent shareholder approval according to the Listing Rules.

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