Minsheng Bank approves $61.65m in related party transactions

China Minsheng Banking Corp (CMBC) has approved a RMB 61.65 million budget for related transactions with Minsheng Real Estate Co., Ltd., and its subsidiaries for the year 2025. The decision was made at the bank's ninth session of the board on March 24, 2025. The transactions, which account for 1.16% of CMBC's net assets as of the end of 2023, encompass a variety of activities including credit facilities, property management, and tech services. Independent directors have affirmed the fairness and compliance of these transactions, stating they align with standard business practices and regulatory requirements. The transactions with related parties are part of CMBC's normal business operations and do not have any significant adverse impact on the bank's operations or financial situation. The transactions are under Minsheng Real Estate, Minsheng Technology, Changrong Heyin, and Hongtai Dingshi.