China ICBC says will be responsible to investors in troubled shadow banking product - paper

Thursday, 23 Jan 2014 | 8:25 PM ET

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SHANGHAI, Jan 24 (Reuters) - China's top lender, which helped market a troubled shadow bank product, has said it will bear some responsibility for repaying investors and will inform them of its decision regarding the product before Jan. 28, the official Shanghai Securities News reported on Friday.

The Industrial and Commercial Bank of China <1398.HK), which helped market a trust product issued by China Credit Trust Co Ltd to wealthy investors, had previously said it would not bear the "main responsibility" for repaying investors.

(Reporting by Lu Jianxin and Fayen Wong; Editing by Pete Sweeney and Paul Tait)

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