The National Financial Regulatory Administration and the Hubei provincial government said they will place Wuhan Zhongbang Bank Co., Ltd. under takeover citing serious credit risk. The measure, aimed at protecting depositors and other customers, is be

2026-07-03

The National Financial Regulatory Administration and the Hubei provincial government said they will place Wuhan Zhongbang Bank Co., Ltd. under takeover citing serious credit risk. The measure, aimed at protecting depositors and other customers, is being taken under the Banking Supervision Law and the Commercial Bank Law and is effective from July 3, 2026 through July 2, 2027.