HNA raises Deutsche Bank stake to 4.76 percent

FRANKFURT, March 23 (Reuters) - Chinese conglomerate HNA

Group has hiked its stake in Deutsche Bank,

which is in the midst of an 8 billion euro ($8.62 billion)

capital increase, to 4.76 percent from 3.04 percent, Germany's

flagship lender said on Thursday.

HNA, which holds the stake via investment vehicle C-Quadrat,

is the bank's third-biggest shareholder after Qatar, which has

close to 10 percent of stock, and BlackRock, which owns

6.1 percent.

Although HNA has said that its investment in Deutsche Bank

is passive, the desire to boost its holding suggests HNA may

have strategic ambitions.

The Chinese group has been on a acquisition spree that has

seen it expand from its traditional business of aviation and

logistics into financial services, betting on asset managers and

consumer finance for growth at home and overseas.

The moves reflect a broader push by China into financial

services globally as Beijing encourages its corporate sector to

expand overseas, although it faces increased regulatory scrutiny

in the United States and Europe.

($1 = 0.9276 euros)

(Reporting by Arno Schuetze; Editing by Harro ten Wolde)