Bank of Communications (Bocom) said its existing capital could sustain the growth of the bank and it had no plan to raise funds in the equity market. The bank's net profit jumped 15 per cent to 58.3 billion yuan (HK$72.8 billion) last year, in line with market expectations. It declared a final dividend of 24 fen.Thursday, 28 March, 2013, 6:31am
One year after the mainland's leaders picked Wenzhou to start a pilot programme designed to curb and regulate the city's informal shadow-lending networks, it's clear the plan isn't working. Small firms it intended to benefit still can't access loans because they lack collateral and are struggling to stay afloat.28 Mar 2013 - 6:31am
A priority policy should be in place not just for education, but for other services, including welfare, because people living locally contribute to the government budget as Hong Kong taxpayers.8 Feb 2013 - 3:25am
Total lending to non-bank mainland companies rose 13 per cent in the first nine months of last year over the same period in 2011, less than a third of the 42.9 per cent growth rate seen in 2011, the Hong Kong Monetary Authority said.7 Feb 2013 - 5:16am
The mainland banking regulator is fine-tuning an 18-year-old ceiling on bank loans.
Mainland banks cannot lend more than 75 per cent of their outstanding deposits, according to a 1995 commercial bank law. While regulators check the ratio on a monthly basis, banks often try to attract deposits by offering high rates and moving loans off balance sheet to dodge the rule.30 Jan 2013 - 1:34am
The head of China Development Bank's Hong Kong branch has been moved back to Beijing after an internal probe into a loan deal for the US$9.4 billion bid by a Thai conglomerate for HSBC's holding in Ping An Insurance.24 Jan 2013 - 4:58am
According to mainland media reports, Beijing has set this year's quota for new bank loans at nine trillion yuan (HK$11.11 trillion).
Now, nine trillion yuan sounds like a lot of money. Certainly it's more than the 8.2 trillion yuan in new local currency loans Chinese banks made last year.24 Jan 2013 - 5:30am
The four biggest mainland banks by assets are expected to get a 35 per cent share of the country's new-loan quota of 8.5 trillion yuan (HK$10.6 trillion) this year, maintaining their dominance over the mainland's 300 or so other commercial banks.19 Jan 2013 - 5:12am
China discovered more than 1.4 billion tonnes of new proven oil reserves last year, its third-highest annual haul ever, while its proven reserves of natural gas rose by a record of nearly 900 billion cubic metres over the year, the Ministry of Land and Resources said.19 Jan 2013 - 5:12am
Banks are set to take tougher action against distressed shipowners this year, leading to a rise in loan foreclosures and lenders taking possession of vessels, shipping experts say.19 Jan 2013 - 5:12am
European Central Bank officials were considering new rules that would require banks to give more information about loans used as collateral for borrowing from the institution, a person with knowledge of the situation said.18 Jan 2013 - 5:27am
Citic Telecom International, a subsidiary of Hong Kong conglomerate Citic Pacific, has secured bank loans to buy 79 per cent of Companhia de Telecomunicacoes de Macau (CTM).
Chief financial officer David Chan said eight banks would together loan US$1.16 billion to Citic Telecom to cover the purchase price.17 Jan 2013 - 4:19am
The mainland banking sector is said to be facing increasing risks from problematic loans and off-balance-sheet businesses, leaving regulators a daunting task in the future.
The top priority of the China Banking Regulatory Commission (CBRC) this year is to prevent "systematic risk" and "regional risk", the regulator said at its annual work meeting on Monday.16 Jan 2013 - 3:41am
While Hong Kong banks welcomed Beijing's initiative to let them make yuan-denominated loans to companies operating in Qianhai, analysts warned the amount of new business would be small, at least at first, and not lucrative.29 Dec 2012 - 4:58am
Firms in Shenzhen's Qianhai development zone will be allowed to borrow directly from Hong Kong banks in yuan, the People's Bank of China branch in the mainland city said yesterday.28 Dec 2012 - 6:11am