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HONG KONG, May 23 (Reuters) - Strategic investor Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA.MC: Quote, Profile, Research) will raise its stake in CITIC International Financial Holdings 0183.HK to 35 percent from 15 percent, a Hong Kong newspaper reported on Friday.

The Standard, citing CITIC International chief executive officer Dou Jianzhong, said the deal would be sealed within a week. "We are in the final stage of discussion to confirm some details of the transaction, but the scale has been confirmed. Details will be disclosed before May 30," Dou was quoted as saying.

Dou said both parties would be firmly committed to leverage CITIC Ka Wah Bank as a primary platform to develop combined future businesses in China and to pursue opportunities in Asia.

BBVA had said in April that it planned to increase its stake in CITIC Bank Corp (0998.HK: Quote, Profile, Research) in the next month as previously agreed with the Chinese bank. BBVA owns 5 percent of CITIC Bank (601998.SS: Quote, Profile, Research) and 15 percent of its international arm CITIC International Financial.

(US$1=HK$7.8)

(Reporting by Donny Kwok; Editing by Ken Wills)

((donny.kwok@reuters.com; +852 2843 6441; Reuters Messaging: donny.kwok.reuters.com@reuters.net)) Keywords: CIFH BBCA

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