Jiangsu Changshu Rural Commercial Bank proposes strategic mergers

Jiangsu Changshu Rural Commercial Bank plans to absorb and merge with Yancheng Binhai Xingfu Rural Township Bank, Zhenjiang Runzhou Changjiang Rural Township Bank, and Changzhou Zhonglou Changjiang Rural Township Bank.

Following the mergers, the absorbed banks will be dissolved and their assets, liabilities, and business operations will be assumed by Jiangsu Changshu Rural Commercial Bank, which will establish new branches.

The bank also proposes to eliminate its board of supervisors, transferring its responsibilities to the board of directors' audit and consumer rights protection committee.