CIFHCitic Internacional Financial Holdings
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CIFH would become a wholly-owned subsidiary of the Bank after the purchase, that would enable China CITIC Bank the sole discretion in develping the corporate control and governance over CIFH in terms of strategic planning, risk control and the development of cross-border businesses.
In May, Citic Bank has said that it was buying the stake in CIFH from Citic Group for HKD13.
It said that CIFH-owned Hong Kong lender Citic Ka Wah Bank Limited and other CIFH assets are expected to contribute more to Citic Bank's profitability.