China Citic Bank: Challenge Keeping 2nd Half CAR Above Regulatory Minimum
August 12 2010 - 1:11AM
Dow Jones News
China Citic Bank Corp. (0998.HK), in which Spain's Banco Bilbao
Vizcaya Argentaria SA owns a 15% stake, said Thursday keeping its
capital adequacy ratio above the regulatory minimum in the second
half wouldn't be easy ahead of a planned CNY26 billion (US$3.8
billion) rights issue.
The medium-sized bank said its CAR at the end of June was
10.95%, slightly above the 10% regulatory minimum for medium-sized
Chinese banks.
Vice President Cao Guoqiang also said at a news conference the
bank doesn't expect a big swing in its net interest margin in the
second half compared with the first half if there are no interest
rate hikes.
The bank said Wednesday its first-half net profit rose 45% from
a year earlier to CNY10.69 billion, due to continued expansion in
lending and an improved net interest margin.
-Victoria Ruan contributed to this article, Dow Jones Newswires;
8610 8400 7799; victoria.ruan@dowjones.com
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