May 29,  Prague Daily Monitor (CTK) - PPF Investments, owned by Petr Kellner who is the richest man in the Czech Republic, wants to buy into Nanchang City Commercial Bank in the Jiangxi province in south-east China, the daily Mlada fronta Dnes MfD writes today referring to Czech Industry and Trade Minister Martin Riman.

Riman is currently on a working visit to China accompanied by a business delegation.

The bank is listed as the 34th biggest bank in China by The Banker magazine.

It is PPF's priority to acquire some of the banks in China and Vietnam and provide consumer loans, MfD reminds its readers.

The group's spokeswoman Dita Fuchsova told the paper that the company would not comment on the planned transaction because talks have not been completed yet.

PPF withdraws from the market in Romania. Last week, it sold a 20-percent stake in the small local bank Romexterra to its majority owner, MKB Bank of Hungary.

Referring to the Romanian daily Ziarul Financiar, MfD said the transaction was worth over EUR20m (Kc560m).