China Everbright Bank confirmed that its restructuring plan has been approved by various regulators, it said in a statement on its website.

'Reports that the bank's financial restructuring plan has been approved are true. The detailed plans will be further discussed by the bank's board and shareholders,' China Everbright Bank said.

The bank did not discuss details of the plan reported in the media.

Yesterday, the 21st Century Business Herald said the restructuring will feature a capital injection by central bank investment arm Central Huijin of 20 bln yuan, making it the bank's controlling shareholder.

Central Huijin has performed similar roles in other recapitalizations involving China Construction Bank and Bank of China, before they went public.

The report added that a dual listing in Shanghai and Hong Kong for the bank may take place in the first half of 2008 at the earliest.

The bank is one of the weakest national joint-stock commercial banks, with a non-performing loan ratio of over 6 pct at the end of 2006, well above the 3 pct industry average.