Bank of China (BOC) is close to issuing a $7 billion share offering in Hong Kong to bolster balance sheets strained by loan growth.
Bank of China has already announced plans to issue $5.9bn in convertible bonds on the mainland.
The share issue is likely to be limited to a Hong Kong offering easily [...]
The chairman of Bank of China said the lender wants to grow aggressively overseas but doesn’t plan on making any acquisitions.
Xiao Gang told reporters Thursday that BoC’s “overseas expansion plans will rely on [its] own strengths,” noting that international business has already increased after foreign banks were crippled by the global financial crisis.
He didn’t name [...]
China’s Ministry of Finance is planning to increase its holding in Bank of Communications (BoCom) when the bank issues new shares in order to replenish its capital base.
A source close to the ministry said that following regulatory approval for the new share issue, the Ministry of Finance would buy a stake [...]
On Monday, Bank of China ordered its subsidiary branches to enforce an “overall hike” in interest rates on new loans provided to property developers.
The China Banking Regulatory Commission last week called for greater supervision of the property market, and at a meeting on Monday Bank of China’s leaders told their credit managers that “in principle” [...]
HSBC has denied reports that it is considering a bid for a majority stake in one of China’s big three listed banks.
Michael Geoghegan, CEO of HSBC, said the bank is happy with its stake in Bank of Communications (BoCom), China’s fifth largest lender, as its primary investment vehicle in the country.
HSBC owns just under 20% [...]
HSBC may buy a majority stake in one of China’s big three lenders to increase its presence in the mainland, according to unnamed sources quoted in a British Sunday newspaper.
HSBC, Europe’s biggest bank, is understood to be looking to buy shares in either ICBC, Bank of China or China Construction Bank, [...]
Airlines are using funds from Chinese financial services firms in increasing numbers to purchase aircraft, driving Airbus deliveries to near-record levels this year, according to Airbus SAS head of aircraft finance.
“Chinese financial institutions have done a solid job of financing airlines in China; now they’re expanding rapidly beyond Chinese borders and that should continue,” Airbus [...]
The government of Greece is hoping to convince China to buy US$35.2 billion in government bonds to fund its public debt.
Goldman Sachs has reportedly been working to encourage China’s State Administration of Foreign Exchange (SAFE) to buy the bonds, but the paper cited sources close to SAFE as saying it was [...]
Bank of China announced on Friday that it plans to raise new capital through share and bond issues.
The lender will seek shareholder approval to sell new shares that amount to no more than 20% of its existing Hong Kong and Shanghai-listed shares. The total sum could be almost $30 billion.
Bank of [...]
Beijing has ordered commercial banks to stop lending until the end of January.
The China Securities Journal cited unidentified banking industry sources in both Beijing and Shanghai as saying that new loans amounting to more than US$146 billion have already been issued in 2010. The newspaper quoted an unnamed Bank of China official who said that [...]
