Postal Savings Bank of China said its president Tao Liming and another official are, because of suspicions of personal "economic problems," currently "assisting" an investigation by relevant departments, according to a statement posted on the lender's website on Monday.

The bank issued the statement after Caixin Online reported earlier on Monday that Tao has been placed under shuanggui, a form of detention imposed on Party officials.

Agencies - China Daily