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BOC targets 500b yuan in new loans this year

By Bi Xiaoning (chinadaily.com.cn)
Updated: 2009-03-12 13:34

The new yuan-denominated loans from Bank of China (BOC) will total over 500 billion yuan this year, accounting for about 10 percent of the country's 5 trillion yuan in new loans, the bank's President Li Lihui said on Wednesday, quoted by the Beijing News.

BOC has also announced an issue of up to 120 billion yuan of subordinate bonds to supplement the capital. BOC is the third State-owned commercial bank to issue subordinate bonds this year.