CCB to raise funds
Source: Bloomberg News |
June 13, 2011, Monday
|
Print Edition
Print Edition
CHINA Construction Bank Corp, the world's second-largest lender by market value, plans to sell as much as 80 billion yuan (US$12.3 billion) of subordinated bonds with maturities of at least five years to replenish capital.
The board also approved a plan to set up a wholly owned commercial bank in Sao Paulo with US$100 million of capital, according to a filing with the Hong Kong stock exchange. CCB didn't give further details of the bond offerings or the Brazilian unit.
The China Banking Regulatory Commission last month said the country's systemically important banks must have minimum capital adequacy ratios of 11.5 percent by the end of 2013 in its version of the so-called Basel III rules agreed to by global officials last year. Chinese banks had a capital adequacy ratio of 11.8 percent at the end of March, according to the regulator.
The board also approved a plan to set up a wholly owned commercial bank in Sao Paulo with US$100 million of capital, according to a filing with the Hong Kong stock exchange. CCB didn't give further details of the bond offerings or the Brazilian unit.
The China Banking Regulatory Commission last month said the country's systemically important banks must have minimum capital adequacy ratios of 11.5 percent by the end of 2013 in its version of the so-called Basel III rules agreed to by global officials last year. Chinese banks had a capital adequacy ratio of 11.8 percent at the end of March, according to the regulator.
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