Insurer helps bank
By Zhang Fengming |
March 31, 2011, Thursday
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Print Edition
Print Edition
PING An Insurance (Group) Co will boost capital of Shenzhen Development Bank to support its growth, Run Huichuan, president of Ping An, said yesterday in Shanghai.
The Shenzhen-based insurer holds 52 percent of the lender. Ping An, which also has its own banking arm, will leverage the two banks' network resources to cross-sell products. The combined network between Ping An Bank and Shenzhen Development Bank was the fourth biggest among joint stock banks in China, Ren said.
The Shenzhen-based insurer holds 52 percent of the lender. Ping An, which also has its own banking arm, will leverage the two banks' network resources to cross-sell products. The combined network between Ping An Bank and Shenzhen Development Bank was the fourth biggest among joint stock banks in China, Ren said.
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