Bank of Hangzhou equity transfer approved by regulator

Bank of Hangzhou (SSE:600926) announced that it has received regulatory approval from the Zhejiang Regulatory Bureau of the State Financial Supervision and Administration Bureau regarding a change in equity structure. The approval allows New China Life Insurance to acquire 329,638,400 shares previously held by the Commonwealth Bank of Australia. Upon completion of the transfer, New China Life Insurance will hold a total of 356,555,844 shares in Bank of Hangzhou, representing 5.63% of the bank's total ordinary shares as of April 14, 2025. The bank stated that it will proceed with the necessary equity change procedures in accordance with relevant laws and regulations and will fulfill its information disclosure obligations.