China Everbright Bank to grant ¥290 bn credit line to major shareholder

China Everbright Bank plans to approve a ¥290 billion comprehensive credit line for China CITIC Financial Asset Management Co., Ltd. (CITIC Financial Asset), a key shareholder holding an 8.02% stake and represented by one director on the bank's board. This 12-month credit facility will be provided on a credit basis. The transaction has been classified as a connected transaction.

The proposed credit line, along with other connected transactions over the past 12 months, will exceed 0.5% of the bank's latest audited net assets. However, China Everbright Bank emphasizes that this transaction, priced at fair market value and aligned with general commercial terms, will not materially impact its normal operations or financial condition.

The transaction has been approved by the bank's Connected Transaction Control Committee and the board of directors, following review by independent directors. No shareholder approval or further regulatory body approval is required. CITIC Financial Asset Management, formerly China Huarong Asset Management, was established in November 1999 with a registered capital of ¥80.247 billion. As of June 2025, its total assets stood at ¥10,109.33 billion, with total liabilities of ¥9,580.02 billion and net assets of ¥529.31 billion.