20 September 2018

ICBC injects 3 billion yuan into ICBC Leasing, Xinhua says

ICBC Financial Leasing Co. Ltd. (ICBC Leasing) has received a capital injection of 3 billion yuan (US$492.45 million) from Industrial and Commercial Bank of China Ltd. (ICBC) (01398.HK, 601398.CN), boosting its capital base to 11 billion yuan, the official Xinhua news agency reported Wednesday. The injection will speed up the company’s business development, ICBC sources were quoted as saying. ICBC Leasing has total assets of 170 billion yuan, the report said.

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