Postal Savings Bank of China Co., Ltd. Class H (HK:1658) has released an update.
Postal Savings Bank of China Co., Ltd. has approved a proposal to transfer its beneficial interests in certain trusts and an asset management plan to China Post Capital Management Co., Ltd., with a total consideration of RMB51.58 billion, pending final terms and agreements. The bank will provide further updates once the official agreements have been signed. This strategic move is yet to be finalized, but it indicates significant financial realignment within China’s banking sector.
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