Bank of Ningbo's unit completes capital increase registration

Bank of Ningbo (SZSE:002142) announced that its subsidiary, Ningbo Consumer Finance, has finalized the registration for an increase in registered capital. Approved at the eighth meeting of the bank's board, the move saw Ningbo Consumer Finance's registered capital increase from RMB 2,911,494,250 to RMB 3,600,000,000. Following the capital injection, Bank of Ningbo now holds 3.39 billion shares in Ningbo Consumer Finance, representing 94.17% of the total share capital. The capital increase was approved by the Ningbo Financial Supervision Bureau and the subsidiary has received a new business license.