China’s Gansu provincial govt to inject capital into Bank of Gansu – Caixin

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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)

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