7000亿新省级银行，获批筹建！

Core Viewpoint - The establishment of Xinjiang Rural Commercial Bank has been approved, marking a significant step in the reform of the rural credit system in Xinjiang, with plans for the bank to open by the end of November 2023 [1][4][5]. Group 1: Establishment of Xinjiang Rural Commercial Bank - The National Financial Supervision and Administration has approved the establishment of Xinjiang Rural Commercial Bank, which is expected to be operational within six months from the approval date [1][4]. - Xinjiang Rural Credit Union aims to achieve its goal of opening the bank by the end of 2023, as highlighted in its 2025 work meeting [5]. - The bank's asset scale is projected to exceed 700 billion yuan upon opening, indicating significant growth potential in the region's financial landscape [6]. Group 2: Developments in Xinjiang Banking Sector - Xinjiang Bank has received approval for a capital increase, allowing it to raise 4.317 billion shares, increasing its total capital to 12.223 billion shares [7]. - The bank has also been approved to absorb and merge with Xinjiang Huihe Bank, which will enhance its asset base significantly, potentially exceeding 200 billion yuan post-merger [8]. - Xinjiang Bank's financial performance shows a revenue of 1.852 billion yuan in the first three quarters of 2023, a decrease of 7.4% year-on-year, while net profit increased by 10.34% to 395 million yuan [8].