China Everbright Bank secures nod for wealth management subsidiary

Pedro Gonçalves
clock • 1 min read

China Everbright Bank (CEB) has received the green light to set up a wealth management subsidiary, Beijing's official news agency xinhuanet reported. The wealth management subsidiary of CEB will be established with a registered capital of 5 billion yuan ($746.3m), the company said in a statement filed with the Shanghai Stock Exchange. The bank is said to be one of the first joint stock lenders to get approval for such a move. Previously, Industrial and Commercial Bank of China, Bank ...

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