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CN 5 Major SOE Banks Confirm Plans to Abolish Supervisory Boards
Recommend 38 Positive 62 Negative 36 |
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The board of directors from five major state-owned Chinese banks, ICBC (01398.HK)(601398.SH), ABC (01288.HK)(601288.SH), BANK OF CHINA (03988.HK)(601988.SH), CCB (00939.HK)(601939.SH), and BANKCOMM (03328.HK)(601328.SH), released announcements for resolutions. The announcements indicated that their boards approved proposals to amend their articles of association and abolish or cease establishing supervisory boards. These proposals are subject to approval at the banks’ shareholder meetings. Additionally, CM BANK (03968.HK)(600036.SH) announced that it will no longer maintain a supervisory board. AAStocks Financial News |
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