Bank of Gansu Transfers Non-Performing Assets

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

Bank of Gansu Co., Ltd. has announced the transfer of its non-performing Creditor’s Rights Assets to Gansu Assets Management through a public bidding process, aiming to alleviate its asset burden. The assets, valued at approximately RMB56.4 million, were sold for a total consideration of RMB10.5 million. This transaction is categorized as a connected transaction due to the involvement of Gansu State-owned Assets Investment, a major shareholder of the bank.

For further insights into HK:2139 stock, check out TipRanks’ Stock Analysis page.