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China's Citic, AIbank to lend Haidilao restaurants 2.1 billion yuan

China's Citic, AIbank to lend Haidilao restaurants 2.1 billion yuan

File photo of a Haidilao hotpot restaurant. (Photo: Reuters/Jason Lee)

BEIJING: China’s Citic Bank and AIBank will lend 2.1 billion yuan (US$298.77 million) to hotpot chain Haidilao International to help it manage the plunge in demand during the coronavirus outbreak, according to a statement on AIBank’s official WeChat account on Friday (Feb 21).

AIBank is a digital bank jointly owned by Citic Bank Corp Ltd and search engine company Baidu.

The banks have already issued 810 million yuan to the restaurant chain, said the statement.

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Source: Reuters/nc

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