Category: Bank of Communication

China central bank hires banks for its debut dim sum bond in London-term sheet

[HONG KONG] China’s central bank has hired banks to arrange its debut offshore yuan bond issuance in London, according to a term sheet seen by Reuters on Monday. The so-called dim sum bond sale comes as Chinese President Xi Jinping prepares for a state visit to Britain this week. Sources… – Continue reading

Bank of Communications says to issue $2.45 bln offshore preference shares

Bank of Communications Co Ltd , China’s fifth largest commercial bank based on total assets, said it would issue $2.45 billion offshore preference shares to third party investors, to replenish capital and enhance competitiveness. The proposed issue of 5.00 percent non-cumulative perpetual offshore preference shares will also drive transformation of… – Continue reading

Four foreign banks ordered to tighten anti-laundering efforts

The financial regulator said on Tuesday that it has ordered four foreign banks operating in Korea to strengthen their anti-money laundering protections. The Financial Supervisory Service (FSS) inspected some 60 local and foreign banks to check whether they are equipped with relevant safeguards. Among them were the Seoul branches of… – Continue reading