Jiangsu Bank to Open This Month.

(From SinoCast China Financial Watch)

JIANGSU, January 04, SinoCast -- Jiangsu Bank, incorporated through the merger of ten local city commercial banks, is scheduled to kick off this month in Nanjing, capital of the eastern province Jiangsu. The bank's corporate system and business management rules have been set up. The ten city banks are located in Wuxi, Suzhou, Changzhou, Zhenjiang, Yancheng, Yangzhou, Nantong, Lianyungang, Huaian and Xuzhou. They jointly contribute CNY 4.3 billion to the newborn, representing about 4.3 billion shares. Under the regrouping plan, Jiangsu Bank's total capital stock is to increase by 3.5 billion shares via a non-public offering. The …