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ICBC Peru approves $20M capital hike
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Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments
Lima-based Banco Industrial y Comercial de China Ltd. approved a $20 million capital hike equivalent to 67.6 million shares to be solely subscribed by parent company Industrial & Commercial Bank of China Ltd., the Peruvian subsidiary said in a filing.
The capital contribution, which will be made in cash, is aimed at "reinforcing" the equity position of the company.