Citic Industrial Bank's public listing will most likely happen next year, after which it hopes that foreign investors will take a stake in the bank, according to the bank's president. Earlier this year, mainland media reported that Citic Industrial Bank planned to raise at least 10 billion yuan (about HK$9.37 billion) in a domestic listing in the first half of this year. However, Citic Industrial Bank president Dou Jianzhong was quoted in yesterday's China Business Times as saying that the medium-sized commercial bank would be able to list next year if everything went smoothly. At present, all Citic Industrial Bank shares are controlled by China International Trust and Investment Corp (Citic Beijing). The bank has basically completed the structural reforms which would allow other banks to take a stake in it. Mr Dou said that Citic Industrial Bank had entered a one-year guidance period and once that ends, the bank would be ready to list. Citic Industrial Bank has hired Guotai Junan Securities to underwrite the bank's A-share listing. Citic Industrial Bank also hopes to attract foreign investors to take a stake in it when the bank's share capital is expanded. The Beijing-based bank has already held preliminary talks with HSBC, Citibank and the World Bank's financing arm, International Finance Corp (IFC), Mr Dou said. Having foreign banks take a stake in a mainland bank would benefit the latter because it could learn from its foreign partners' management experience and technology. Foreign banks benefit by gaining access to the existing branch networks of the mainland commercial banks. HSBC has a minority stake in the Bank of Shanghai and is still negotiating with Beijing City Commercial Bank. The IFC has stakes in Beijing City Commercial Bank and Nanjing Commercial Bank. It is also planning to take a stake in China Minsheng Bank, the mainland's sole private bank. Mr Dou said because the IFC generally invests in the private sector, Citic Industrial Bank would need to wait until the bank's shareholding structure is privatised before they could work together.