Deutsche sells stake in Hua Xia Bank

The sale follows stricter capital rules, a global restructuring and a corruption scandal. It made a tidy profit but relinquished its goal of going big in China.

Deutsche sells stake in Hua Xia Bank

Deutsche Bank said on Monday that it has agreed to sell its entire 19.99% stake in Hua Xia Bank, at a time of more onerous capital rules on holding minority stakes in financial institutions and in the wake of a corruption scandal at the Chinese bank.

It is selling its stake in the Beijing-headquartered bank to Chinese state-controlled insurer PICC Property and Casualty Company, better known as PICC, for a price tag between...

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