BEIJING—China’s Huishang Bank will take over four branches of Baoshang Bank under a state-led reorganization of the Inner Mongolia-based lender, two sources told Reuters, as part of Beijing’s drive to reduce financial risks from small lenders.
Huishang will take over Baoshang’s Beijing, Shenzhen, Chengdu and Ningbo branches in a new round of asset disposals, the sources told Reuters, declining to be named ahead of formal announcements.
