Zhong Guo Ji Jin Bao·2025-10-29 03:52Core Insights - Jinzhou Bank has officially been acquired by Industrial and Commercial Bank of China (ICBC), marking the end of a six-year reform process aimed at mitigating risks [2][3] - The acquisition includes the transfer of assets, liabilities, business operations, branches, and personnel from Jinzhou Bank to ICBC, with a focus on ensuring that the rights of depositors remain unaffected [2][3] - This acquisition represents a significant move in the banking sector, as it is the first instance of a major state-owned bank fully absorbing an independent city commercial bank [3][4] Summary by Sections Acquisition Details - Jinzhou Bank announced that ICBC will take over its assets, liabilities, business operations, branches, and personnel, as per the signed acquisition agreement [2] - The migration of business operations to ICBC's platforms will occur 15 working days after the notification, with specific timelines to be announced later [2] Business Migration - The migration will include corporate banking services such as settlement accounts, online banking, check services, and payroll services, as well as personal banking services like payment and fund distribution [2] - Certain credit card functionalities will be temporarily unavailable during the transition [2] Market Reaction and Implications - The official announcement of the acquisition signifies the conclusion of Jinzhou Bank's reform efforts, which have been ongoing for nearly six years [3] - The acquisition is viewed as an innovative approach by large commercial banks to address risks associated with smaller financial institutions [3][4] - The move is expected to set a precedent for future risk management strategies within the banking sector [4]