China News Agency, Beijing, April 30 (Reporter Wang Enbo) With the approval of the China Banking Regulatory Commission, Mongolia Commercial Bank was established on April 30, and its registered place is Baotou City, Inner Mongolia Autonomous Region. Mongolia Merchants Bank and Huishang Bank will jointly acquire the related businesses, assets and liabilities of the contractor bank.

  The general principle of the original business division of Baoshang Bank ’s customers is: the relevant business of the head office of Baoshang Bank and the branches in Inner Mongolia Autonomous Region is undertaken by Mengshang Bank, and the relevant business of the branches outside Inner Mongolia Autonomous Region is undertaken by Huishang Bank.

  The Mongolian Commercial Bank was jointly established by the Deposit Insurance Fund Management Co., Ltd. and eight promoters from the Inner Mongolia Autonomous Region, such as CCB Financial Asset Investment, a wholly-owned subsidiary of China Construction Bank, Huishang Bank, and the Inner Mongolia Autonomous Region Finance Department. The registered capital is 20 billion yuan and the total shares are 20 billion shares.

  In response to a reporter's question, the Baoshang Bank takeover team said that since May 24, 2019, Baoshang Bank has been legally taken over by the People's Bank of China and the China Banking and Insurance Regulatory Commission for nearly a year. After the completion of the large-scale debt acquisition and transfer in June 2019, the asset clearance and capital verification were completed from July to September. From October, the leadership group took over to start the reform and reorganization of the Baoshang Bank.

  According to the takeover team, Mongolia Commercial Bank is a newly established legal entity that is independent of Baoshang Bank. After the original personal deposits of Baoshang Bank were undertaken by Mengshang Bank and Huishang Bank, all rights and business processes were not affected, and were guaranteed by the deposit insurance fund according to law.

  The newly established Mongolian Commercial Bank also issued an announcement on the same day that it will give full play to its shareholder background advantages, introduce long-term rich management experience of large state-owned banks and listed city commercial banks, insist on grounding, focus on Inner Mongolia, fully fulfill social responsibilities, and strengthen regional The vitality of financial development can better serve the real economy and meet regional financial needs. (Finish)