BRIEF-China CITIC Bank, Baidu fintech JV to boost capital by up to $300 mln – regulator

July 13 (Reuters) – China’s banking and insurance regulator said in an online statement on Friday: * approves AiBank, a joint venture launched by China Citic Bank Corp and search engine giant Baidu Inc , to increase shareholders equity by no more than 2 billion yuan ($299.75 million) * approves Citic Bank to invest 1.
4 billion yuan in this round of capital raising (Reporting By Reuters China finance team; Editing by Sunil Nair)Our Standards:The Thomson Reuters Trust Principles.0 : 0narrow-browser-and-phonemedium-browser-and-portrait-tabletlandscape-tabletmedium-wide-browserwide-browser-and-largermedium-browser-and-landscape-tabletmedium-wide-browser-and-largerabove-phoneportrait-tablet-and-aboveabove-portrait-tabletlandscape-tablet-and-abovelandscape-tablet-and-medium-wide-browserportrait-tablet-and-belowlandscape-tablet-and-belowAppsNewslettersAdvertise with UsAdvertising GuidelinesCookiesTerms of UsePrivacyAll quotes delayed a minimum of 15 minutes.
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