Bank in China Sells More of Riskiest Wealth Management Products
Guangzhou Rural Commercial Bank which is preparing to list in Hong Kong has said that it has increased sales of its riskiest wealth management products. The bank has sold 93 billion yuan of “level 5” products, the highest of its five risk categories. This amounted to a third of the bank’s sales of products, an increase from 6% in 2015.
“The bank has sold 93 billion yuan of “level 5” products, the highest of its five risk categories.”
Money invested into the wealth management products was placed into “money market instruments, debt securities, non-standard credit assets and equity products.
About Guangzhou Rural Commercial Bank
GRCB is previously known as Guangzhou Rural Credit Cooperatives established 60 years ago in 1951. Based in south part of Guangdong Province, we are always committed to making significant contributions to agricultural development, rural society’s stabilization, promoting economic construction in both urban and rural areas and increasing farmers’ income by adhering to our operational objectives of promoting local economic development and providing top services to agricultural industry and countryside farmers and small and medium sized-enterprises (SMEs).
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