trending Market Intelligence /marketintelligence/en/news-insights/trending/Iyp8H9sFXP3mIZaOgRKQ5g2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

China's Industrial Bank to set up financial assets investment unit

Blog

Banking Essentials Newsletter: May Edition

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on IFRS 9

Blog

Banking Essentials Newsletter: April Edition - Part 2

Blog

The Evolution of Cloud Banking: Successful Implementation & Frameworks


China's Industrial Bank to set up financial assets investment unit

Industrial Bank Co. Ltd. plans to set up a wholly owned financial assets investment unit.

The subsidiary will have a registered capital of 10 billion yuan, according to a Dec. 22 release.

The lender also said it plans to write off 100 million yuan in bad debts.

The moves are subject to shareholder approval.

As of Dec. 21, US$1 was equivalent to 6.91 Chinese yuan.