ShanghaiPudong Development Bank Co. Ltd. will write off 6.46 billion Chineseyuan of assets, Bloomberg News reported Sept. 28, citing a statement toShanghai's stock exchange.
The bank did not give details about the assets it will writeoff.
The board also approved changing management rules forbad-asset transfers, the bank said.
A representative for Shanghai Pudong Bank did not commentbeyond the statement.
As of Sept. 28, US$1was equivalent to 6.68 Chinese yuan.