The China Banking Regulatory Commission has decided to take over Zhongbang Bank.

The China Banking and Insurance Regulatory Commission and the Hubei Provincial People's Government jointly issued a notice on July 3, stating that due to serious credit risks at Wuhan Zhongbang Bank Co., Ltd., in order to protect the legitimate rights and interests of depositors and other customers, in accordance with relevant provisions of the Banking Supervision and Management Law and the Commercial Bank Law, the financial regulatory commission has decided to take over Zhongbang Bank. It was announced that the takeover period will be from July 3, 2026, to July 2, 2027, lasting for one year. After the takeover, customer services at Wuhan Zhongbang Bank will continue as usual, legally guaranteeing the rights and interests of depositors and other customers. Personal deposits will be fully guaranteed, without any impact. Corporate deposits and interbank liabilities will be guaranteed according to the protection plan. New deposits and interbank liabilities after the takeover will be fully guaranteed, without any impact.