To the rescue: Huishang Bank, based in eastern China’s Anhui province, plans to take a stake of no more than 15 per cent after a government-orchestrated overhaul of the troubled lender. Photo: CFA

Troubled Baoshang Bank, the first lender seized by Chinese regulators in two decades, to receive 3.6 billion yuan of fresh capital from rival Huishang Bank

  • Huishang Bank would become a white knight investor in Baoshang, taking a 15 per cent stake as part of a state-backed rescue package, according to sources
  • China’s central bank took control of Baoshang Bank in May last year, making it the first lender to be seized by mainland regulators since 1998
Topic |   Financial regulation
To the rescue: Huishang Bank, based in eastern China’s Anhui province, plans to take a stake of no more than 15 per cent after a government-orchestrated overhaul of the troubled lender. Photo: CFA
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