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China's ICBC, Cinda Asset to take 17.3% stake in Bank of Jinzhou

China's ICBC, Cinda Asset to take 17.3% stake in Bank of Jinzhou

Pedestrians walk along an elevated walkway as an electronic ticker displays stock figures in Pudong's Lujiazui Financial District in Shanghai, China, on Friday, Dec. 28, 2018. China announced plans to rein in the expansion of lending by the nation's regional banks to areas beyond their home bases, the latest step policy makers have taken to defend against financial risk in the world's second-biggest economy. Photographer: Qilai Shen/Bloomberg

The Industrial and Commercial Bank of China (ICBC), the country’s largest lender by assets, and China Cinda Asset Management, one of China’s four largest bad banks, said on Sunday they would take stakes in troubled Bank of Jinzhou.

Bank of JinzhouChina Cinda Asset ManagementIndustrial and Commercial Bank of China

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