Banking News
- Guangxi News
Date: 6-Feb-2007 Sources: (Shenzhen Daily)
NANNING City Commercial Bank plans an asset restructuring ahead of the introduction of foreign strategic investors and an eventual listing, the Shanghai Securities News reported yesterday, citing an unnamed source.
Nanning City Commercial Bank, a city bank based in Guangxi, plans to restructure itself into a regional bank that will also do business in Southeast Asia, the report said. As part of the restructuring, the city bank plans to borrow 10 billion yuan (US$1.29 billion) from China Development Bank, one of China's three policy lenders, the report said.
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