The Bank of Guizhou announced the reformed insurance plans for 10 village banks initiated by the bank owner. The plan will be reviewed at the 2nd Extraordinary General Meeting of Shareholders to be held on November 18, 2026. According to the announcement, the Bank of Guizhou initiated a total of 13 village banks, 3 of which have completed reforms. For the remaining 10 village banks that have not yet completed reforms, the Bank of Guizhou plans to adopt an “acceptance+exit” approach to absorb and merge. Specifically, the Bank of Guizhou will undertake deposits, deposit-related bank card services, and branch services from these 10 village banks, and place relevant employees. In terms of asset disposal, these 10 village banks will entrust the establishment of a trust with all of their monetary assets and non-monetary asset income rights, while the Bank of Guizhou will use claims formed from underwriting deposits to receive a share of the trust's beneficiary rights as consideration for the underwritten deposit. The 10 village banks involved in this reform include Guiyang Baiyun Dexin Village Bank, Qingzhen Xingbang Village Bank, Suiyang Qianbei Village Bank, Zunyi Bozhou Huilong Village Bank, Zunyi Huichuan Qianxing Village Bank, Liupanshui Zhongshan Liangdu Village Bank, Pingba Dingli Village Bank, Anshun Western Airlines Nanma Village Bank, Durongyuntong Village Bank, and Kaili Southeast Village Bank. The plan is yet to be approved by regulators and shareholders' meetings.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.