CCB's exposure to Middle East small
Source: Xinhua |
December 1, 2009, Tuesday
|
Print Edition
Print Edition
CHINA Construction Bank Corp yesterday said it has some exposure to the Middle East, but will not suffer substantial impact from the Dubai debt crisis as the exposure takes a very small percentage in the bank's total assets.
Wang Lin, a spokesperson for China's second-largest lender, did not specify details on CCB's exposure to the Middle East in a statement on the bank's Website.
CCB will continue to monitor financial market changes across the world, including the Middle East, Wang said.
CCB's competitors, the Industrial and Commercial Bank of China, the Bank of China and the Bank of Communications, said last Friday that they did not hold bonds issued by Dubai World.
Dubai said last Wednesday it was asking for a six-month reprieve on paying Dubai World's debts as a first step to restructuring the company.
Dubai World said it would ask creditors to agree to a standstill on US$60 billion of debt until at least May.
Market observers noted if Dubai should prove unable to pay the debts, many of the world's leading banks would suffer losses.
Wang Lin, a spokesperson for China's second-largest lender, did not specify details on CCB's exposure to the Middle East in a statement on the bank's Website.
CCB will continue to monitor financial market changes across the world, including the Middle East, Wang said.
CCB's competitors, the Industrial and Commercial Bank of China, the Bank of China and the Bank of Communications, said last Friday that they did not hold bonds issued by Dubai World.
Dubai said last Wednesday it was asking for a six-month reprieve on paying Dubai World's debts as a first step to restructuring the company.
Dubai World said it would ask creditors to agree to a standstill on US$60 billion of debt until at least May.
Market observers noted if Dubai should prove unable to pay the debts, many of the world's leading banks would suffer losses.
- 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.
