Everbright Bank gets 20b yuan boost

PUBLISHED : Thursday, 16 August, 2007, 12:00am
UPDATED : Thursday, 16 August, 2007, 12:00am

China Everbright Bank's board has approved a capital injection of up to 20 billion yuan by Central SAFE Investments in exchange for the lender's shares, according to China Everbright. Everbright Bank's management is still in talks with SAFE regarding the share subscription and the plan will require approval by the lender's shareholders and the China Banking Regulatory Commission, the company says. China Everbright owns 21.39 per cent of Everbright Bank, which has registered capital of 8.22 billion yuan.