Chinese bank gets equity injection after CBL hit
Capital boost implies further provisioning on $33m loan.
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
The owners of Chinese bank ICBC have pumped an estimated $88 million of equity into their New Zealand subsidiary after it revealed a hit from its lending to insurer CBL.
Companies Office records show Beijing-based Industrial & Commercial Bank of China boosted its New Zealand unit’s shares by
Want to read more? It's easy.
Choose your subscription
Already have an account? Login
Smartphone Only Subscription
NZ$29.95 / monthly
Monthly Premium Online Subscription
NZ$49.95 / monthly
Smartphone Only Annual Subscription
NZ$299.00 / yearly
Yearly Premium Online Subscription
NZ$499.00 / yearly
Premium Group Membership 10 Users
NZ$385+GST / monthly
$38.5 per user - Pay by monthly credit card debitPremium Group Membership 20 Users
NZ$660+GST / monthly
$33 per user - Pay by monthly credit card debitPremium Group Membership 50 Users
NZ$1375+GST / monthly
$27.5 per user - Pay by monthly credit card debitPremium Group Membership 100 Users
NZ$2100+GST / monthly
$21 per user - Pay by monthly credit card debitYearly Premium Online Subscription + NBR Marketplace
NZ$999.00 / yearly
Individual
Group membership
NBR Marketplace
Tim Hunter
Fri, 06 Jul 2018
Fri, 06 Jul 2018
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Free News Alerts
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
Free News Alerts
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
Chinese bank gets equity injection after CBL hit
75665