Date
17 August 2018

Chongqing Bank to offer more micro loans amid rate reform

The Bank of Chongqing Co. Ltd. (01963.HK) said it will offer more loans to micro and small enterprises to maintain its competitiveness amid the nation’s interest rate liberalization. It will also open more branches to boost growth, the lender’s management said in the press conference announcing its Hong Kong listing plan on Thursday. The lender will strengthen risk management to suppress its non-performing loan ratio, which stood at 0.38 percent in the first half this year. It will offer 707.52 million H shares, which include 670 million new shares and 37.52 million existing shares, at a price between HK$5.6 (71.8 US cents) and HK$6.5.

–Contact HKEJ at [email protected]

JH/JP/CG

 

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