CCB looks at issuing A or H shares
Source: Agencies |
March 30, 2010, Tuesday
|
Print Edition
Print Edition
CHINA Construction Bank, the country's second-largest lender by market capitalization, said it is examining ways of raising capital but has no immediate plans to do so.
The bank was considering an issue this year of A shares in Shanghai or H shares in Hong Kong, Chairman Guo Shuqing, said in Hong Kong yesterday.
Chinese banks are eager to raise capital after lending grew substantially last year as a result of China's economic stimulus program.
CCB said it aimed to keep its capital adequacy ratio steady at about 11.5 percent in the next five years.
The lender, in which Bank of America holds an 11 percent stake, also reported its profit climbed 15 percent in 2009 on a surge in lending and strong fee and commission income. Profit for 2009 was 106.8 billion yuan (US$15.6 billion), the Beijing-based lender said on Sunday. That compared with a 92.6 billion yuan profit in 2008.
CCB, which is a major lender for construction and housing, said its ratio of non-performing loans to total lending fell to 1.5 percent by the end of last year from 2.2 percent a year earlier.
Separately, CCB President Zhang Jianguo said the bank had exposure of 7 billion yuan to Dubai World debt.
The debt could be switched to normal loans at CCB's request and provision set aside for the loans could be written back, he said in Beijing.
Dubai last week said it would spend up to US$9.5 billion to restructure debt-laden Dubai World in a plan that would give bank lenders their money back in five to eight years.
The bank was considering an issue this year of A shares in Shanghai or H shares in Hong Kong, Chairman Guo Shuqing, said in Hong Kong yesterday.
Chinese banks are eager to raise capital after lending grew substantially last year as a result of China's economic stimulus program.
CCB said it aimed to keep its capital adequacy ratio steady at about 11.5 percent in the next five years.
The lender, in which Bank of America holds an 11 percent stake, also reported its profit climbed 15 percent in 2009 on a surge in lending and strong fee and commission income. Profit for 2009 was 106.8 billion yuan (US$15.6 billion), the Beijing-based lender said on Sunday. That compared with a 92.6 billion yuan profit in 2008.
CCB, which is a major lender for construction and housing, said its ratio of non-performing loans to total lending fell to 1.5 percent by the end of last year from 2.2 percent a year earlier.
Separately, CCB President Zhang Jianguo said the bank had exposure of 7 billion yuan to Dubai World debt.
The debt could be switched to normal loans at CCB's request and provision set aside for the loans could be written back, he said in Beijing.
Dubai last week said it would spend up to US$9.5 billion to restructure debt-laden Dubai World in a plan that would give bank lenders their money back in five to eight years.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
