Directly Targeting Suzhou Bank's Emergency Shareholders' Meeting! Intends to Absorb and Merge 3 Rural Banks, Officially Cancels Board of Supervisors

Since this year, Suzhou Bank has been actively pushing forward the work of absorbing and merging rural banks.

On August 11th, Suzhou Bank (601128) held its third extraordinary shareholders' meeting in 2025, with on-site approval for the absorption and merger of three rural banks and the establishment of a branch institution, as well as the cancellation of the board of supervisors, modification of the company's articles of association, shareholders' meeting rules, and other seven agenda items. Time Weekly reporters attended the meeting, and all the agenda items were passed with a high vote.

The emergency shareholders' meeting was chaired by Suzhou Bank's chairman, Xu Wen, and attended by the bank's president, Bao Jian, secretary of the board of directors, Tang Zhi-feng, and representatives from some shareholder units.

This year, Suzhou Bank has been actively pushing forward the work of absorbing and merging rural banks.

In the first half of this year, the bank completed the "four-in-one" project in Yichun, Hubei Province, involving four rural banks. In June, the bank absorbed and merged Jiangsu Jiangning Rural Bank, Suqian Xingfu Rural Bank, and Jiangsu Baoyang Rural Bank, completing the "rural-to-branch" project, and setting up new branches in Nanjing Jiangning, Suqian, and Yangzhou Baoyang.

Additionally, Tang Zhi-feng also indicated that the bank is currently steadily pushing forward the "three-in-one" project in Jiangsu Huai'an region, with expectations of completing it by the end of this year.

Suzhou Bank's emergency shareholders' meeting site; Time Weekly reporter/camera

Intends to Expand by 3 Rural Banks

The agenda item intends to absorb and merge three rural banks, all located in Jiangsu Province, namely, Yancheng Coastal Development Rural Bank, Zhenjiang Runzhou Longjiang Rural Bank, and Changzhou Zhonglou Longjiang Rural Bank. After the absorption and merger, these three rural banks will be dissolved and their legal status annulled, with all their business, assets, liabilities, and other rights and obligations inherited by Suzhou Bank.

Specifically, Yancheng Coastal Development Rural Bank was established in August 2014, with a registered capital of RMB 416 million. Its main initiators were the investment management company of Suzhou Bank, Xingfu Village and Town Bank, holding a stake of 64.9%. As of the end of 2024, its total assets stood at RMB 15.95 billion, total deposits at RMB 13.76 billion, and total loans at RMB 14.05 billion, with a non-performing ratio of 0.98% and a provision coverage ratio of 361.1%

The other two rural banks intended to be absorbed are also initiators of Wuhan Commercial Bank. Suzhou Bank is currently a shareholder of Wuhan Commercial Bank, with an equity stake of approximately 3.14%, according to Tianyan data.