Compliance
Bank Of China Due To Kick Off Basel III Capital Fund-Raising Drive - Report
Bank of China is due to issue its first tranche of preferred shares that comply with Basel III capital rules, the start of a group of similar moves from banks on the Mainland as regulations take effect.
Bank of
China is due to issue its first tranche of preferred shares
that comply with Basel III capital rules, the start of a group of
similar moves from banks on the Mainland as regulations take
effect, media reports said.
Mainland banks are likely to issue a total of around RMB310
billion ($50.6 billion) such paper, according to the South China
Morning Post.
In August this year, BOC logged after-tax profits of RMB93.409
billion in the first six months of 2014, up by 10.97 per cent
year on year; after-tax profits attributable to shareholders
amounted to RMB89.724 billion, up 11.15 per cent year on year.
That interim statement did not spell out how it fared under Basel
III capital rules, however.
The report said more banks, and other state firms, are expected
to enter the market with the hybrid securities brought in by
Mainland regulators in April.
