China’s Baoshang Bank Is Taken Over By Regulators Over Credit Issues
PYMNTS
MAY 24, 2019
Baoshang Bank, based in Inner Mongolia, will be taken over by China’s banking and insurance regulator over critical credit risks, according to a report by Reuters. The China Construction Bank (CCB), based in Baotou, will handle the bank’s business operations. Baoshang’s outstanding loans totalled 156.5 billion yuan ($22.68
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