Three Investment Firms Step In to Help Troubled Regional Bank

Three investment firms, including one controlled by China’s largest lender, have confirmed that they will invest in troubled Bank of Jinzhou Co. Ltd. as part of a restructuring effort.

State-owned Industrial and Commercial Bank of China Ltd. (ICBC) will invest no more than 3 billion yuan ($435.2 million) in privately-owned Bank of Jinzhou through a wholly-owned subsidiary, ICBC Financial Asset Investment Co. Ltd., in exchange for a 10.82% stake in Bank of Jinzhou, Hong Kong- and Shanghai-listed ICBC announced late Sunday