China's Gansu provincial govt to inject capital into Bank of Gansu - Caixin

Bank of Gansu

10/04/2020 09:06

BEIJING, April 10 (Reuters) - China's Gansu provincial
government will inject capital into Bank of Gansu (2139.HK) with
support from the central bank's special loans, the financial
news outlet Caixin reported on Friday, citing unitentidied
sources at regulator.
    Caixin didn't specify the size of the capital injection. The
plan, approved by the local government on Tuesday, will dispose
all the existing risky assets in the lender in the northwestern
province with losses shared by the shareholders and local
government, Caixin said. 
    The move comes after a rush of investor cash withdrawals at
one of its branches on Sunday.

 (Reporting by Zhang Yan, and Ryan Woo in Beijing; Editing by
Kim Coghill)
 ((Zoey.Zhang@thomsonreuters.com;))