Banking News
- Everbright eyes injection this month
Date: 9-Nov-2007 Sources: (Shenzhen Daily)
MID-SIZED lender China Everbright Bank hopes to receive a 20 billion yuan (US$2.7 billion) capital injection from the government by the end of this month, its chairman said Wednesday.
The capital infusion, central to Everbright's long-awaited restructuring plan, would come from Central Huijin, an arm of China's sovereign wealth fund, Tang Shuangning told reporters. 'We will sign the agreement as soon as possible,'said Tang, who is chairman both of Everbright Group and its banking unit. 'Our hope is that the capital can be injected by the 30th.'
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