Mumbai, August 18: People's Bank of China has reportedly made an investment in ICICI Bank. According to a Business Today report, the Chinese Bank has emerged as one of the investors in ICICI Bank's Rs 15,000 crore capital raising exercise which ended last week. The report mentioned that the Chinese Bank signed a cheque of Rs 15 crore in the private bank.

The People's Bank of China was amongst the 357 institutional investors which included domestic mutual funds, insurance companies and global institutions that subscribed to the issue. Some of the prominent investors were Government of Singapore, Morgan Investment and Societe Generale. ICICI Bank Registers 26% Rise in Standalone Net Profit at Rs 1,221 Crore in Last Quarter of FY 2019-20.

This new investment in the banking sector comes close on the heels of People's Bank of China increasing its stake in HDFC Ltd to over 1 per cent in March this year. Earlier this year, the Chinese central bank's investment in mortgage lender HDFC Ltd created a flutter in the Indian market

(The above story first appeared on LatestLY on Aug 18, 2020 12:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).