Economy
Deep-pocketed ICBC has no fundraising plan
By Wang Bo and Hu Yuanyuan (chinadaily.com.cn)
Updated: 2010-03-05 15:46
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China's largest bank ICBC said on Friday it has no fundraising plan in the short term as its capital adequacy ratio is still higher than most of its peers and faces no pressure to raise new capital.
Speaking on the sidelines of the opening of the National People's Congress in Beijing, Industrial and Commercial Bank of China President Yang Kaisheng said the bank's capital adequacy ratio now stands at about 12 percent, above the government's mandated minimum of 11 percent.
"We expect to see its non-performing loan ratio continue to go down this year, and we will not largely cut loans to property developers," said Yang.
