No Data
No Data
Bank of Communications Bolsters Capital With Bond Issue
The Bank of Communications (03328.HK) has completed the issuance of 30 billion yuan subordinated bonds.
Bank of Communications (03328.HK) announced on July 26th that the shareholder meeting approved the proposal to issue write-down second-tier capital bonds in RMB or equivalent foreign currency not exceeding RMB 100 billion before the end of 2024. In November 2023 and April 2024, the bank respectively issued RMB 30 billion and RMB 26 billion in second-tier capital bonds on the national interbank bond market. Recently approved by the China Banking and Insurance Regulatory Commission and the People's Bank of China, Bank of Communications has issued the second phase of its 2024 second-tier capital bonds on the national interbank bond market.
Express News | Bank of Communications - Issuance of Bonds Was Completed on 26 July With a Total Issuance Scale of RMB30 Bln
Express News | Bank of Communications -Successful Issue of Tier-2 Capital Bonds
Banks stocks generally decline, CM Bank (03968) falls 4.35%, Guolian Securities points out that there may be increased pressure on bank interest spreads.
Bank stocks fell across the board, with CM Bank (03968) down 4.35%, CEB Bank (06818) down 2.89%, Minsheng Bank (01988) down 2.87%, and Bank of Communications (03328) and China Citic Bank Corporation (00998) following suit. On the news front, ICBC and ABC will adjust RMB deposit rates from July 25, with the largest reduction in the interest rate for fixed deposit of more than two years, which is 20 basis points. As of the time of publication, the official websites of BOC and CCB have not yet made adjustments, but they are expected to do so soon. According to the information on the ICBC website, the latest policy will be implemented from July 25.
Hong Kong stocks fluctuate | CM Bank (03968) falls more than 4%, leading the decline in China Mainland Banking. The central bank optimizes the interest rate system, but the interest rate spread of banks still continues to narrow.
China mainland banking stocks continued to decline in the morning session. As of press time, CM Bank (03968) fell 4.2%, to HKD 31.95; Minsheng Bank (01988) fell 3.94%, to HKD 2.68; Bank of Communications (03328) fell 2.93%, to HKD 5.64; and China Construction Bank Corporation (00939) fell 2%, to HKD 5.39.
No Data