Chinese regulator to take over Baoshang Bank for a year due to credit risks [Reuters (UK)]
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Source: Reuters
Chinese regulator to take over Baoshang Bank for a year due to credit risks - Reuters 1 Min Read BEIJING, May 24 (Reuters) - China’s central bank said on Friday that the banking and insurance regulator will take over Inner Mongolia-based Baoshang Bank due to serious credit risks. The takeover will last a year, the People’s Bank of China said in a statement on its website. China Construction Bank (CCB) will be entrusted to handle the business operations of Baoshang, according to the statement. (Reporting by Cheng Leng and Beijing Monitoring Desk; Editing by Nick Macfie) All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2019 Reuters. All Rights Reserved.
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