17 February 2020

SPDB in Shanghai Intl Trust acquisition talks, paper says

Shanghai Pudong Development Bank (SPDB) is in talks to acquire Shanghai International Trust Co. Ltd., Shanghai Securities News reported Tuesday. SPDB is engaged in banking, financial leasing, overseas investment and fund management. The acquisition target is in the trust business. It will allow SPDB to expand its financial services, with trust products sold through its private banking business, the report said, citing unnamed analysts.

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