Minsheng Bank Winds Approval To Issue 50B Yuan Of Bonds

Date:2011-11-09houhaizhen  Text Size:

November 9 -- China Minsheng Banking Corporation (600016.SH, 1988.HK) obtained approval from the China Banking Regulatory Commission (CBRC) to issue 50 billion yuan worth of bonds to fund lending to small and micro enterprises, reports caijing.com.cn, citing a company filing.

According to a notice published by the CBRC on October 25, loans granted by commercial banks to small and micro enterprises will not be included in the deposit-loan ratio, in order to encourage loans to such enterprises.

Apart from Minsheng Bank, Industrial Bank (601166), Shenzhen Development Bank (000001), Shanghai Pudong Development Bank (600000), and Bank of Hangzhou had also applied to the CBRC for permission to issue the aforesaid bonds, with total issuance amount of 138 billion yuan.

The loan balance of Minsheng Bank to small and micro enterprises through the end of September totaled 214.2 billion yuan, an increase of 34.73 percent from the end of 2010.

Through the end of June, the deposit-loan ratio of Minsheng Bank hit 73.26 percent.

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