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🚨🚨🚨 Official announcement from PBOC, this might the first bank run and bank bailout by PBOC after 1979 (Chinese economic reform)
Baoshang Bank, a commercial bank with ~10k employees and over $61B total asset is facing severe credit risk and now being taken over by PBOC
Baoshang Bank, a commercial bank with ~10k employees and over $61B total asset is facing severe credit risk and now being taken over by PBOC
This is the document directly sent by PBOC
Just check the bank’s recent total asset is over $81B asset on balancesheet with half of that are deposit asset ... 👀👀👀
Just check the bank’s recent total asset is over $81B asset on balancesheet with half of that are deposit asset ... 👀👀👀
Ironically, the bank has been rated as AA+ by national rating agency in 2017 .. and its latest financial was published in 2017 👇🏻afterwards nothing has been disclosed ..
Long Bitcoin, short the Bank 🏦
Long Bitcoin, short the Bank 🏦
There is nothing specific in the PBOC announcement, all typical chinese gov language as “EVERYTHING IS FINE”, e.g all banking activities will be as usual etc
the bank is the biggest commercial bank in Inner Mongolia, so it’s politically critical too to make sure the stability
the bank is the biggest commercial bank in Inner Mongolia, so it’s politically critical too to make sure the stability
