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CDB reviews strategic tie-up and equity stake in Barclays
March 5, 2010, Friday
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JIANG Chaoliang, President of China Development Bank
China Development Bank, a former policy lender that has become a commercial bank, said yesterday it will review its strategic tie-up with Barclays Plc, including its equity stake in the British bank.
"We are now reviewing our ties with Barclays," the bank's president, Jiang Chaoliang, told Reuters on the sidelines of the Chinese People's Political Consultative Conference in Beijing.
"A review report will be submitted to board members for consideration," he said, adding CDB's board would meet in June to discuss the bank's equity investment in Barclays as well as their strategic cooperation.
The bank holds a 2.07 percent stake in Barclays.
China Development Bank, a former policy lender that has become a commercial bank, said yesterday it will review its strategic tie-up with Barclays Plc, including its equity stake in the British bank.
"We are now reviewing our ties with Barclays," the bank's president, Jiang Chaoliang, told Reuters on the sidelines of the Chinese People's Political Consultative Conference in Beijing.
"A review report will be submitted to board members for consideration," he said, adding CDB's board would meet in June to discuss the bank's equity investment in Barclays as well as their strategic cooperation.
The bank holds a 2.07 percent stake in Barclays.
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