Wuxi Rural Commercial Bank gears up for expansion, capital boost

Wuxi Rural Commercial Bank (SSE:600908) has released materials for its 2024 Annual General Meeting, detailing a comprehensive strategy for sustained growth, enhanced risk management, and optimized shareholder returns. Key proposals include the absorption of its controlling village banks in Tongshan and Jiangyan, transforming them into branch locations, a move aimed at strengthening its regional presence and service capabilities. To further bolster its capital reserves, the bank seeks shareholder approval for issuing up to CNY1.5 billion in Tier 2 capital bonds.