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HOdo Group's bid for Xishang Bank was approved

Published in: 2019-09-17

After 6 years of bidding efforts by HOdo Group, Wuxi Xishang Bank finally obtained the approval of the China Banking Regulatory Commission to establish it, becoming the second private bank in Jiangsu Province and the 19th in the country.

As the birthplace of Chinese national industry and commerce, the birthplace of township industry, the gathering place of private economy, and the innovation place of the Internet of Things industry, Wuxi has nurtured the Xishang's spirit of “being a pioneer, being tough and resolute, advocating morality and favoring the people, and serving the country with industry”. Adhering to the consistent spirit of Xishang, Wuxi Xishang Bank will be based in Jiangsu, positioned to serve small and micro enterprises, technological innovation, and urban and rural residents, striving to build a technology-based bank featuring Internet of Things finance.

It is understood that the Wuxi Xishang Bank is located at HOdo Fortune Plaza in the Wuxi East High-speed Railway Business District. The region has a developed economy, convenient transportation, and outstanding location advantages, which are conducive to the continuous and sustainable development of the financial industry. According to relevant regulations, the preparatory period for a private bank is generally 6 months from the date of approval. It is expected that Wuxi Xishang Bank will open in the first half of 2020.

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