Deutsche Bank and Sal Oppenheim have bought a 14 per cent stake in China’s Huaxia Bank. Deutsche Bank and Cologne-based Sal Oppenheim, t...

Deutsche Bank and Sal Oppenheim have bought a 14 per cent stake in China’s Huaxia Bank. Deutsche Bank and Cologne-based Sal Oppenheim, the largest independent private bank in Europe, will buy 587.2 million shares. Deutsche Bank will own 9.9 per cent of the Beijing-based bank, China's fourth-largest publicly traded lender, and Sal Oppenheim 4.1 per cent, according to a statement from Huaxia. The price of the transaction was not disclosed. Huaxia reported first-half profit up 29 per cent to 640 million yuan ($79 million) from 495 million yuan a year earlier as it made more money from loans and investments.