North Industries Group Red Arrow (SHE:000519) renewed its financial service agreement with Bingtong Financial, a unit of China North Industries Group or Norinco Group, for three more years, according to a Shenzhen Stock Exchange filing on Friday.
Bingtong Financial will provide deposit, loan and credit services to the Chinese defense products manufacturer.
The deposit balance will be capped at 8 billion yuan, while the loans will not exceed 4 billion yuan. The total credit every year is limited to 4 billion yuan, the filing said.
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