Banking

Bank of China's CAR seen at 12% by year-end

(Agencies)
Updated: 2010-12-14 14:40

SHANGHAI -?Bank of China will have a capital adequacy ratio (CAR) of at least 12 percent by the end of this year, Reuters reported Tuesday, citing China Securities News.

Earlier this week, Bank of China completed its 60 billion yuan ($9 billion) rights issue in Hong Kong and Shanghai after investors representing 99.1 percent of its Hong Kong-listed shares signed up for the new shares.

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The country's fourth-largest bank would not be required to tap the capital markets to replenish its capital base for the next two to three years after the latest round of fundraisings, the?report said.