Asia
Jinshang Bank to Invest 730 Million Yuan in Jinshang Consumer Finance
Jinshang Bank (HKG:2558) agreed to invest 730 million yuan in Jinshang Consumer Finance to bump its stake from 40% to 70%, according to a Monday filing with the Hong Kong bourse.The capital injection will result in Jinshang Consumer Finance becoming a subsidiary of the bank, with its financial results consolidated in the group's overall statements.Jinshang Consumer Finance, which is also known as Jinshang Xiaojin, holds a nationwide consumer finance license.Jinshang Bank said the acquisition will help expand its business scope and customer base.
HKG:2558
