19 May 2019

Environmental protection firms mull private bank, paper says

A group of listed Chinese firms from the environmental protection sector is considering establishing a private bank, the China Securities Journal reported over the weekend, citing business insiders. The bank will mainly serve firms involved in environment-related activities, the report said. The new entity is expected to have registered capital of up to 6 billion yuan (US$986.70 million), and target annual net profit of more than 1 billion yuan by 2019, a source was quoted as saying.

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