A rural bank in Tianjin absorbs and merges with a "sister bank"

The approval issued by the Tianjin Financial Regulatory Bureau shows that the regulatory authorities have agreed to the merger of Tianjin Huaming Rural Commercial Bank and Tianjin Ninghe Rural Commercial Bank, with Tianjin Huaming Rural Commercial Bank absorbing the assets, liabilities, business, and all rights and obligations of Tianjin Ninghe Rural Commercial Bank, and converting Tianjin Ninghe Rural Commercial Bank into a branch. In addition, the regulatory authorities have approved Shandong Shouguang Rural Commercial Bank Co., Ltd. to hold 31,050,000 shares of Tianjin Huaming Rural Commercial Bank, representing 77.625% of the shares. Information shows that both of the aforementioned rural commercial banks were established by Shandong Shouguang Rural Commercial Bank.