Bank of Guizhou Co. Ltd. Class H (HK:6199) has released an update.
Bank of Guizhou Co., Ltd. is set to acquire an 80% stake in Tongren Fengyuan Town Bank at no cost, transforming it into a branch to align with reforms in rural banking. This move aims to streamline operations and enhance resource management, pending approval from the shareholders’ general meeting. The acquisition highlights the bank’s strategic efforts to expand its footprint and integrate rural banking services.
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