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Is Xingtai Bank a formal bank?

Xingtai Bank is a formal bank.

Xingtai Bank is a local joint-stock commercial bank with first-class legal person status approved by the China Banking Regulatory Commission and established in accordance with the "Commercial Bank Law", "Company Law" and other laws and regulations. It is a formal bank. It has 32 branches. Xingtai Bank is headquartered in Zhongxing East Street, Xingtai City. In the 2014 China Financial Top 500 list, Xingtai Bank ranked 155th with total assets of 41.879 billion yuan. Three years after its establishment, Xingtai Commercial Bank officially changed its name to Xingtai Bank. The bank emblem follows the emblem of Xingtai Commercial Bank. This bank emblem passed the solicitation and finally the work of Mr. Sun Zhaozhong, the design director of Shijiazhuang Shangmei Brand Design Agency, won the bid.