trending Market Intelligence /marketintelligence/en/news-insights/trending/nkDxhkJR36q2tJ7QNaSPyA2 content esgSubNav
In This List

Ping An Bank receives regulatory approval to set up wealth management unit

Blog

Global Capital Markets & SPAC Activity – H1 2021

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration


Ping An Bank receives regulatory approval to set up wealth management unit

Ping An Bank Co. Ltd. received approval from the China Banking and Insurance Regulatory Commission to set up a wealth management unit.

The lender needs to obtain further approval from the commission before the unit begins operations.

It said earlier that the unit will have registered capital of up to 5 billion yuan.

As of Jan. 1, US$1 was equivalent to 6.96 Chinese yuan.