trending Market Intelligence /marketintelligence/en/news-insights/trending/igxwlgtfzajhuanszmsbla2 content esgSubNav
In This List

Zuoli Kechuang Micro-finance completes transfer of microfinance biz to unit

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Zuoli Kechuang Micro-finance completes transfer of microfinance biz to unit

Zuoli Kechuang Micro-finance Co. Ltd. completed the transfer of its microfinance business to subsidiary Deqing Jinhui Micro-finance Co. Ltd. and a capital injection into the subsidiary.

The company transferred certain assets and liabilities to Deqing Jinhui Micro-finance, which will become the primary microfinance platform of the group. It also injected capital into the microfinance company, raising its holding in Deqing Jinhui Micro-finance to 99.43% from 96.93%.

Further, Zuoli Kechuang is in the process of obtaining regulatory approval in relation to the surrender of its microfinance license and transforming itself into a general holding company.

As of March 15, US$1 was equivalent to 6.32 Chinese yuan.