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Chinese banks could be the new owners of DVB Bank

13 Feb 2018

Two Chinese banks, namely the Bank of China and Industrial and the Commercial Bank of China (ICBC), are interested in acquiring DVB Bank, according to Reuters.

DZ Bank, the parent company of aviation and shipping financial lending firm DVB Bank, is clearing debt due to bad loans in shipping.

Officials at DZ Bank, DVB Bank, Bank of China and ICBC have declined comment to Reuters.

"There is interest from ICBC and Bank of China and this shows the Chinese are still looking for assets in Germany," said an unnamed source.

"It’s unclear if they will take it to the later stages, but they are looking at it."

The report also noted asset managers Carlyle Group and Apollo Global Management being interested in DVB.

Spokesmen for both parties declined to comment.

Published: 13 February, 2018

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