Hua Xia Shi Bao·2025-10-28 05:14Core Points - On October 26, Jinzhou Bank officially announced that its assets, liabilities, business, branches, and personnel would be acquired by Industrial and Commercial Bank of China (ICBC) [2][3] - The acquisition marks a new phase in risk management for Jinzhou Bank, which has been under reform since 2019 due to its classification as a high-risk financial institution [5][6] - The move is seen as a significant step in stabilizing regional financial systems and enhancing the efficiency of financial risk management [2][4][8] Group 1: Acquisition Details - ICBC will continue to provide banking services to Jinzhou Bank's customers, ensuring that the rights of depositors remain unaffected [3][4] - The business migration will involve transferring various services, including unit and personal customer business, credit card services, and payment services to ICBC's platforms [4] - Customers are advised to replace old savings cards and redeem funds held with Jinzhou Bank as part of the transition [2][4] Group 2: Background and Context - Jinzhou Bank was established in January 1997 and has faced significant challenges, including a decline in stock price and trading volume since its listing in 2015 [5][6] - The bank has been undergoing restructuring since 2019, which included disposing of risky assets and enhancing its capital base [5][6] - Since 2021, Jinzhou Bank has closed approximately 33 branches as part of its downsizing efforts [7] Group 3: Implications for the Industry - The acquisition by a large state-owned bank is viewed as an innovative approach to resolving risks in smaller financial institutions [4][8] - The involvement of large banks like ICBC is expected to provide substantial support to smaller banks, leveraging their financial strength and expertise in risk management [8] - This trend reflects a broader strategy in China to address the challenges faced by smaller financial institutions through market-oriented and legal frameworks [7][8]