Ping An Insurance may buy some or all of a 17% stake in Shenzhen Development Bank (SDB) belonging to US private equity firm TPG Capital, the South China Morning Post reported. The deal could give Ping An a controlling stake in the bank – it currently owns 4.86% of SDB – and help Ping An to become a financial conglomerate. TPG’s Newbridge Capital fund originally bought its 17.89% stake of SDB in 2004 for US$155 million as a financial strategic stakeholder. Shares of Ping An and SDB were suspended from trading in Hong Kong yesterday on speculation over the deal. Details on the possible deal’s structure remain unclear. In March, the head of Ping An’s banking unit said that the group would consider acquisitions as a path to growth.