A senior executive at Huishang Bank Corp. Ltd. is being investigated as part of a probe that may be linked to the lender’s huge investment losses, including those involving failed regional lender Baoshang Bank Co. Ltd., sources told Caixin.
Xia Min, who is an assistant to the eastern Chinese lender’s president, was detained for questioning by the country’s anticorruption watchdog on Thursday, sources close to the Anhui province-based bank told Caixin on condition of anonymity. Authorities have yet to disclose why Xia is under investigation.