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Tahota assisting in the first bank merger project in Sichuan that was approved by Sichuan Banking and Insurance Regulatory Bureau

2021-08-16 Views:878

Recently, the Reply on the Merger of Yibin Rural Commercial Bank Co., Ltd. with Sichuan Yibin Jinjiang Rural Commercial Bank Co., Ltd., the Reply on the Dissolution of Sichuan Yibin Jinjiang Rural Commercial Bank Co., Ltd. and the Financial License were successively issued by Sichuan Banking and Insurance Regulatory Bureau for the deepening reform of rural commercial banks in the central urban areas in Yibin. The above replies and financial license indicate that decisive results have been achieved in merger reform of rural commercial banks in the central urban areas of Yibin, and the largest urban rural commercial bank is generated under Sichuan Rural Credit.


As the special legal adviser, Tahota Law Firm has provided legal services for the merger project in the whole process, including the merger preparation and joint opening stages, and fully participated in the reform organization construction, equity liquidation, asset and capital verification, acceptance by regulatory authorities, dissolution, opening and change concerning both parties. Finally, the project was approved by the regulatory bureau and obtained financial license, becoming the first successful bank merger project in Sichuan.


After merger of Yibin Rural Commercial Bank Co., Ltd. with Jinjiang Rural Commercial Bank Co., Ltd., the total assets will exceed CNY 60 billion, and the saving and loan scale will exceed CNY 80 billion. With 126 operating outlets, and more than a thousand employees, the newly-formed institution can serve the central urban areas including Cuiping District, Xuzhou District, Nanxi District and Sanjiang New District, becoming a local legal person institution with the largest saving and loan scale, highest capital strength, most operating outlets and employees and widest service scope.


For this project, we set up a project team with senior partner Xu Zhengping as the project leader, partner Wei Lina, partner Jin Wenjie, and full-time lawyers Wang Jiaojiao, Dou Zhenzhen, Ye Zhenlv and Deng Peng as the main members. In addition, partner Zhang Yun and partner Xu Zhiyuan also supported the project. The project team provided professional, efficient and high-quality legal services to help the merger project to be completed smoothly, which was highly recognized and appreciated by the client.


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