Zhong Guo Ji Jin Bao·2025-10-29 03:49Core Points - Jinzhou Bank has been acquired by Industrial and Commercial Bank of China (ICBC), marking the end of a six-year reform process [2][3] - The acquisition includes the transfer of assets, liabilities, business operations, branches, and personnel from Jinzhou Bank to ICBC [2] - Jinzhou Bank's depositors' rights will remain unaffected by the acquisition [2] Summary by Sections Acquisition Details - Jinzhou Bank announced that ICBC will take over its related assets, liabilities, business operations, branches, and personnel, as per the signed acquisition agreement [2] - The migration of business operations to ICBC's channels will occur 15 working days after the announcement, with specific timelines to be provided later [2] - The migration includes corporate banking services such as settlement accounts, online banking, and personal banking services like payment and fund distribution [2] Current Status - Jinzhou Bank's official website is currently inaccessible, but its mobile banking app remains operational [3] - A customer noted a decrease in interest rates for deposits, aligning with larger banks' rates [3] - As of October 28, the bank's name has not changed, and future announcements will clarify if it will become a branch of ICBC [3] Industry Implications - This acquisition represents a significant move in the resolution of risks associated with smaller financial institutions in China, with ICBC's involvement marking a new phase in risk management [2] - The acquisition is noted as the first instance of a major state-owned bank fully absorbing an independent city commercial bank, differing from more common methods of restructuring or merging regional banks [2][3]