Yichuan Rural Commercial Bank did not specify the reason for the sudden demand for cash withdrawals, but confirmed on Wednesday that “services and operation are running normally”. Photo: EPA
Yichuan Rural Commercial Bank did not specify the reason for the sudden demand for cash withdrawals, but confirmed on Wednesday that “services and operation are running normally”. Photo: EPA

WeChat rumour sparks run on rural Chinese bank in fresh sign of financial fragility amid economic slowdown

  • Yichuan Rural Commercial Bank in Henan province suffered ‘concentrated cash withdrawals’ on Tuesday
  • Authorities have already been forced to take over or recapitalise Baoshang Bank, the Bank of Jinzhou and Hengfeng Bank in the last six months

Yichuan Rural Commercial Bank did not specify the reason for the sudden demand for cash withdrawals, but confirmed on Wednesday that “services and operation are running normally”. Photo: EPA
Yichuan Rural Commercial Bank did not specify the reason for the sudden demand for cash withdrawals, but confirmed on Wednesday that “services and operation are running normally”. Photo: EPA
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