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Exclusive: Another Lender Gets State Lifeline

2019年08月09日 20:26 来源于 财新网
Troubled Hengfeng Bank gets go-ahead for a restructuring plan that will see it receive investment from government-controlled entities
A Hengfeng Bank branch in Beijing in August 2018. Photo: IC Photo

Troubled Hengfeng Bank Co. Ltd. has received official approval for a restructuring plan that involves investments from a provincial government and a unit of China’s sovereign wealth fund, Caixin has learned.

Hengfeng Bank, one of China’s 12 national joint-stock lenders, will receive a 30 billion yuan ($4.3 billion) investment from an entity controlled by the Shandong provincial government, making the entity the biggest shareholder of the Shandong-based bank once the deal is done, multiple sources told Caixin.

版面编辑:喻竹杨洋
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