Bank of Tianjin Co., Ltd. Class H (HK:1578) has released an update.
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Bank of Tianjin Co., Ltd. has announced plans to acquire a 65% stake in Tianjin Jizhou County Bank Company Limited, aiming to convert it into a branch of the Bank. This strategic move, approved by the Bank’s board, is subject to shareholder approval and is part of the Bank’s expansion and adaptation to the current macroeconomic and regional business environment. The acquisition, estimated at approximately RMB 0.21 billion, will involve share transfer agreements and is aligned with regulatory requirements.
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