Chongqing Rural Commercial Bank Co., Ltd. has received approval to acquire shares from a local firm, increasing its stake in a Sichuan-based rural bank to full ownership. The Sichuan Financial Regulatory Authority issued a notice on August 3, endorsing the transfer of 9 million shares of Sichuan Dazhu Yurunongcun Village Bank from Dazhou Xinsheng Coal Washing Co., Ltd. to Chongqing Rural Commercial Bank.
Following the transaction, Chongqing Rural Commercial Bank will hold a total of 100 million shares in Sichuan Dazhu Yurunongcun Village Bank, representing a 100% ownership stake. This move consolidates the bank's control over the village institution, aligning with broader regulatory trends in China's rural banking sector.