Bank of Communication(601328.), China’s fifth-largest lender, announced Wednesday it has approved by the China Banking Regulatory Commission to invest 300 million yuan for a 20 percent stake in the Bank of Tibet as a strategic investor.

»The bank in the Tibet Autonomous Region, which plans to initially raise 1.5 billion yuan of capital, will be the first regional corporate bank in the region and also the first equity commercial lender to operate in the autonomous region.

Source:Caijing