Minsheng gets nod to sell bonds
Source: Xinhua |
May 31, 2010, Monday
|
Print Edition
Print Edition
CHINA Minsheng Banking Corp said over the weekend it had received regulatory approval to sell 5.8 billion yuan (US$849 million) of subordinated bonds on the domestic interbank market to replenish its capital reserves.
The Beijing-based bank's capital adequacy ratio, which measures a bank's ability to deal with risky assets, was 10.83 percent at the end of 2009 after a surge in lending. That is marginally above the minimum 10 percent demanded by the China Securities Regulatory Commission.
The medium-sized lender extended 883 billion yuan in new loans last year, up an annual 34.1 percent.
Minsheng's president, Hong Qi, said last week its CAR would rise to around 12 percent after the bond issue.
Chinese banks this year seek to sell shares and bonds to replenish capital.
The Beijing-based bank's capital adequacy ratio, which measures a bank's ability to deal with risky assets, was 10.83 percent at the end of 2009 after a surge in lending. That is marginally above the minimum 10 percent demanded by the China Securities Regulatory Commission.
The medium-sized lender extended 883 billion yuan in new loans last year, up an annual 34.1 percent.
Minsheng's president, Hong Qi, said last week its CAR would rise to around 12 percent after the bond issue.
Chinese banks this year seek to sell shares and bonds to replenish capital.
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