Ping An Bank to Grant 6.50 Billion Yuan Credit to Ping An International Financial Leasing
Ping An Bank has agreed to extend a 6.50 billion yuan interbank comprehensive credit line to Ping An International Financial Leasing. This deal was confirmed through a filing with the Shenzhen Stock Exchange on Saturday.
- The credit line will be valid for one year.
- Both entities are subsidiaries of Ping An Insurance (Group), a major Chinese financial services group.
In recent trading, Ping An Insurance’s Hong Kong shares rose by less than 3%, while its Shanghai stock saw a 2% increase.
- The credit agreement highlights continued financial backing within the Ping An group.
- This move underscores Ping An Bank’s commitment to supporting its subsidiaries.
