Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bank of Beijing Plans to Raise Capital in Second Half of Year

Bank of Beijing Co., part-owned by ING Groep NV, plans to raise funds “through various ways” in the second half to replenish capital and ensure loan expansion.

The lender will seek shareholder approval on May 26 to raise no more than 10 billion yuan ($1.5 billion) of subordinated bonds and as much as 20 billion yuan of regular bonds, it said in a release to the Shanghai Stock Exchange today.

Chinese banks are under pressure to raise capital after a record 9.59 trillion yuan of new loans last year weakened their balance sheets and the regulator increased requirements for financial buffers. Industrial & Commercial Bank of China Ltd., the nation’s largest, this week won shareholder approval to sell shares and as much as 25 billion yuan of convertible bonds.

Bank of Beijing’s capital adequacy ratio fell to 14.35 percent at the end of last year, down from 19.66 percent at the end of 2008. The lender will maintain a ratio above 12 percent for the next five years, according to today’s statement.

The Beijing-based lender aims to post 2010 net income of 5.64 billion yuan, little changed from a year earlier, it said today. The lender will increase loans by 17 percent to 320 billion yuan and open 10 to 20 sub-branches this year.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.