On September 14, the Sichuan Financial Regulatory Authority issued an official approval regarding the shareholding change for Luzhou Rural Commercial Bank Co., Ltd.. The regulator has greenlit Sichuan Rural Commercial Joint Bank Co., Ltd. to subscribe to 286,200,000 newly issued shares of the bank.

Following the completion of this transaction, Sichuan Rural Commercial Joint Bank will hold a total of 420,736,000 shares in the institution, representing a 10.56% ownership stake.

In a concurrent decision, the authority also approved the dissolution of Sichuan Guling Rural Commercial Bank, Sichuan Hejiang Rural Commercial Bank, Sichuan Xuyong Rural Commercial Bank, and Sichuan Luxian Rural Commercial Bank. These four institutions are set to be absorbed and merged into Luzhou Rural Commercial Bank, which will assume all of their operations, assets, liabilities, and other rights and obligations in their entirety.