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RETAIL BANKING | Cesar Tordesillas, China
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Shenzhen Development Bank now carrying Ping An Bank brand

The former Shenzhen Development Bank will now operate under the name Ping An Bank after it has been absorbed in a merger.

 

"The name change shall have no impact on the rights and obligations of our customers and the bank," said a statement on the new bank's website.

"Cards, documents and certificates of deposit of the original Shenzhen Development Bank and the original Ping An Bank shall remain effective, account numbers shall remain unchanged and signed contracts are still effective."

Shenzhen Development Bank merged with Ping An Bank in June.

"After the merger, the bank saw significant improvements in asset size, outlet coverage and product mix, and is able to offer better and more comprehensive integrated products and services for its broad customer base," the statement said.

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