Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Bank of Communications Co Ltd    601328   CNE1000000S2

End-of-day quote. End-of-day quote  - 09/30
5.53 CNY   -0.18%
09/29 Sino Biopharm Won USD300mn Loan
09/28 CITIGROUP : Lower Limit for Stock Assets in QFII to Be Canceled
09/26 BANK OF COMMUNI : BoCom Plans to Transfer Preferred Shares on Shangh..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Bank Of Communications Shareholders OK $9 Billion Private Placement

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/09/2012 | 12:11pm CEST

Bank of Communications Co. (3328.HK) said Wednesday its shareholders approved a plan to raise CNY56.6 billion (US$9 billion) via a private placement to shore up its capital base in the face of stricter banking rules.

The approval paves the way for China's fifth-largest bank by assets to become the first major domestic bank to seek to raise capital since the country's banking regulator drafted strict new capital-adequacy-ratio requirements last year.

The deal is still subject to approval from China's banking and securities regulators, Bank of Communications said in a statement.

The bank, known as BoCom and 19%-owned by HSBC Holdings PLC (HBC), said in March it would issue 6.54 billion yuan-denominated A shares at CNY4.55 each and 5.84 billion Hong Kong dollar-denominated shares at HK$5.63 each.

Twelve institutional investors, including China's Ministry of Finance and National Social Security Fund, HSBC, auto maker FAW Group, and tobacco manufacturer Hongta Group, will take part in the placement.

Under China's newly drafted capital requirements, banks that are considered important to China's financial system, such as major state-owned lenders like BoCom, will be required to maintain a ratio of core capital to risk-weighted assets of at least 9.50% by 2013.

The drive is aimed at containing the risks from certain assets, such as mortgage loans.

As of March 31, BoCom's core capital represented 9.39% of its risky assets, according to its latest financial reports.

To protect its capital from deteriorating, the bank eliminated its interim dividend for the January-June period of 2011, the first time in four years.

-Rose Yu contributed to this article, Dow Jones Newswires; 8621 6120-1200; rose.yu@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BANK OF COMMUNICATIONS CO
09/29 Sino Biopharm Won USD300mn Loan
09/28 CITIGROUP : Lower Limit for Stock Assets in QFII to Be Canceled
09/26 BANK OF COMMUNICATIONS : BoCom Plans to Transfer Preferred Shares on Shanghai Bo..
09/24 Xiaomi Launches Mi Pay In China
09/23 Banking assets rise to 212.7 trillion yuan
09/22 China banking sector onshore assets up 14.5 pct
09/22 CHINA CONSTRUCTION BANK : Bank of Chinas New York branch picked as yuan clearing..
09/22 Industrial Bank Offers US Dollar Bonds Abroad
09/16 CHINA MERCHANTS BANK : Consumer inflation continues to slow
09/14 BANK OF COMMUNICATIONS : BoCom Completes Offering Preferred Shares for Financing
More news
Sector news : Banks - NEC
05:01p DEUTSCHE BANK : Merkel, Obama did not discuss Deutsche Bank in Thursday call - B..
05:01p DEUTSCHE BANK : must survive without state aid - Eurogroup
05:01pDJDEUTSCHE BANK : U.S. Government Bond Yields Rise
04:45pDJDEUTSCHE BANK : Hedge Funds Gain by Betting Against Deutsche Bank
04:32pDJDEUTSCHE BANK : Shares Rebound After Earlier Selloff -- 2nd Update
More sector news : Banks - NEC
News from SeekingAlpha
08/29 How China Corporate Debt May Trigger A Banking Crisis
08/26 HSBC : Up To 21% Of Market Cap Could Be Returned To Shareholders Over The Next 1..
04/28 ASHR Might Finally Be Staging A Turnaround
2015 How many Chinese shares landed in state hands?
2015 Why Does Trouble In China Have Such A Big Effect On The US?
Advertisement
Financials ( CNY)
Sales 2016 196 162 M
EBIT 2016 99 783 M
Net income 2016 64 921 M
Debt 2016 -
Yield 2016 4,75%
P/E ratio 2016 6,33
P/E ratio 2017 6,37
Capi. / Sales 2016 4,05x
Capi. / Sales 2017 3,87x
Capitalization 795 060 M
More Financials
Chart BANK OF COMMUNICATIONS CO
Duration : Period :
Bank of Communications Co  Technical Analysis Chart | 601328 | CNE1000000S2 | 4-Traders
Full-screen chart
Technical analysis trends BANK OF COMMUNICA...
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 5,50  CNY
Spread / Average Target -0,67%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Chun Peng President, Vice Chairman & Executive Director
Qing Shan Hua Chairman-Supervisory Board
Xi Ming Niu Chairman & President
Ya Li Yu Chief Financial Officer, Executive Director & EVP
Wei Dong Hou Chief Information Officer & Executive VP
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BANK OF COMMUNICATIONS..-14.60%119 208
JPMORGAN CHASE & CO.-0.58%237 127
INDUSTRIAL AND COML BA..-3.28%235 376
WELLS FARGO & CO-18.38%223 871
CHINA CONSTRUCTION BAN..-10.90%190 176
BANK OF AMERICA CORP-9.92%154 705
More Results