Central Huijin Investment Company ABC to inject 6 am ceremony was held in Beijing. Jun-president of the Agricultural Bank, said Huijin's capital injection, joint-stock reform of the Agricultural Bank is an important step, marking the financial restructuring of the Agricultural Bank into the substantive phase of the operation. As of the end of 2007, the Agricultural Bank of non-performing loan rate of 23.50 percent, non-performing loans to 817,973,000,000 yuan, much higher than the previous size of the restructuring of three state-owned commercial banks.
Central Huijin Investment Company ABC to inject 6 am ceremony was held in Beijing. Huijin Company to the Agricultural Bank injected U.S. Dollar 130,000,000,000 yuan (about 19,000,000,000 U.S. dollars) and will hold 50% stake in Agricultural Bank, the Agricultural Bank into a tie with the Ministry of Finance's largest shareholder. Capital injection from the Agricultural Bank of payment in the amount of capital 260,000,000,000 yuan.
Jun-president of the Agricultural Bank, said Huijin's capital injection, joint-stock reform of the Agricultural Bank is an important step, marking the financial restructuring of the Agricultural Bank into the substantive phase of the operation. Substantial capital injection will be effective strength of the Agricultural Bank of capital to improve the financial situation of the Agricultural Bank, Agricultural Bank to enhance profitability. Agricultural Bank from state-owned banks into equity shares of diversified companies, for the introduction of strategic investors in the future, to achieve initial public offering to lay a solid foundation.
Access to capital injection from the Agricultural Bank will continue to improve in-house corporate governance and promote institutional building of a mechanism, efforts to improve operating performance and core competitiveness. At the same time, stability and development in rural areas and business networks and accelerating the cause of the county Department of reform, the overall improvement of financial services, increasing the "three rural" credit support.
October 21, the State Council executive meeting of the Agricultural Bank of the adoption of the principle of joint-stock reform of the overall implementation of the program. A few days ago, ABC vice president of the Pan Gong Sheng said that the Agricultural Bank AG is expected before the end of the year listed, the initial public offering of technical preparations will be completed in the second half of next year. Prior to listing, the Agricultural Bank will complete the financial restructuring and clean up the balance sheet. ABC also plans to the end of this year or first quarter next year to apply for a phased manner to issue Subordinated Debt issued to supplement the capital of the subsidiary, the first phase of the size of the expected 200 billion. Agricultural Bank of non-performing assets into the Department of the Ministry of Finance and the "co-management account", in the future to write on a variety of channels, including the future of the Agricultural Bank will be part of the income tax refund, the Department of the Ministry of Finance and capital gains, non-performing Recovery of assets such as cash.
In the first three quarters of this year, the Agricultural Bank to achieve a profit before provision 98,000,000,000 yuan, an increase of 35%. As of the end of 9, the bank deposits of 5,900,000,000,000 yuan, an increase of 690,000,000,000 yuan; loans 3,970,000,000,000 yuan, up by more than 300,000,000,000 yuan; of which agriculture-related loans 1,390,000,000,000 yuan, an increase 120,000,000,000 yuan. As of the end of 2007, the Agricultural Bank of non-performing loan rate of 23.50 percent, non-performing loans to 817,973,000,000 yuan, much higher than the previous size of the restructuring of three state-owned commercial banks.
Central Huijin Investment Company ABC to inject 6 am ceremony was held in Beijing. Huijin Company to the Agricultural Bank injected U.S. Dollar 130,000,000,000 yuan (about 19,000,000,000 U.S. dollars) and will hold 50% stake in Agricultural Bank, the Agricultural Bank into a tie with the Ministry of Finance's largest shareholder. Capital injection from the Agricultural Bank of payment in the amount of capital 260,000,000,000 yuan.
Jun-president of the Agricultural Bank, said Huijin's capital injection, joint-stock reform of the Agricultural Bank is an important step, marking the financial restructuring of the Agricultural Bank into the substantive phase of the operation. Substantial capital injection will be effective strength of the Agricultural Bank of capital to improve the financial situation of the Agricultural Bank, Agricultural Bank to enhance profitability. Agricultural Bank from state-owned banks into equity shares of diversified companies, for the introduction of strategic investors in the future, to achieve initial public offering to lay a solid foundation.
Access to capital injection from the Agricultural Bank will continue to improve in-house corporate governance and promote institutional building of a mechanism, efforts to improve operating performance and core competitiveness. At the same time, stability and development in rural areas and business networks and accelerating the cause of the county Department of reform, the overall improvement of financial services, increasing the "three rural" credit support.
October 21, the State Council executive meeting of the Agricultural Bank of the adoption of the principle of joint-stock reform of the overall implementation of the program. A few days ago, ABC vice president of the Pan Gong Sheng said that the Agricultural Bank AG is expected before the end of the year listed, the initial public offering of technical preparations will be completed in the second half of next year. Prior to listing, the Agricultural Bank will complete the financial restructuring and clean up the balance sheet. ABC also plans to the end of this year or first quarter next year to apply for a phased manner to issue Subordinated Debt issued to supplement the capital of the subsidiary, the first phase of the size of the expected 200 billion. Agricultural Bank of non-performing assets into the Department of the Ministry of Finance and the "co-management account", in the future to write on a variety of channels, including the future of the Agricultural Bank will be part of the income tax refund, the Department of the Ministry of Finance and capital gains, non-performing Recovery of assets such as cash.
In the first three quarters of this year, the Agricultural Bank to achieve a profit before provision 98,000,000,000 yuan, an increase of 35%. As of the end of 9, the bank deposits of 5,900,000,000,000 yuan, an increase of 690,000,000,000 yuan; loans 3,970,000,000,000 yuan, up by more than 300,000,000,000 yuan; of which agriculture-related loans 1,390,000,000,000 yuan, an increase 120,000,000,000 yuan. As of the end of 2007, the Agricultural Bank of non-performing loan rate of 23.50 percent, non-performing loans to 817,973,000,000 yuan, much higher than the previous size of the restructuring of three state-owned commercial banks.
No comments:
Post a Comment