Cutting exposure
By Zhang Fengming |
June 30, 2011, Thursday
|
Print Edition
Print Edition
SHENZHEN Development Bank will cut exposure to local government financing vehicles after reporting such loans have dropped to 5.5 percent of total loans, executives said yesterday.
Shenzhen Development Bank President Richard Jackson also said the bank's integration with Ping An Bank won't lead to layoffs as the bank is focused on hiring more people.
Shenzhen Development may also raise funds through a private placement to replenish its capital after the integration.
Shenzhen Development Bank President Richard Jackson also said the bank's integration with Ping An Bank won't lead to layoffs as the bank is focused on hiring more people.
Shenzhen Development may also raise funds through a private placement to replenish its capital after the integration.
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