U.S. private equity group Carlyle Group (Carlyle) and the Hong Kong Dah Sing Banking Group (Dah Sing Banking Group) have jointly acquired Chongqing Commercial Bank (Chongqing Commercial Bank) 25% of the shares. The signs that foreign interest in China's growing medium-sized bank. .
Bank and Carlyle purchased Chongqing City commercial bank respectively 17% and 7% of the equity, .99. total investment of more than 10 billion yuan (us $ .28 1 kg.). In recent years, many commercial bank of China has opened its doors to foreign capital, Chongqing City commercial bank that is one up-to-date.
Foreign stake in Chongqing City Commercial Bank, reflecting foreign financial institutions, regional banks in China's interest is growing. In accordance with the provisions of China's banking sector, foreign investment in a mainland bank shares shall not exceed 25%, Carlyle and Dah Sing Bank of Chongqing City Commercial Bank have reached the maximum stake. .
It is expected that, as at the end of this year, the Chongqing commercial banks ' total assets will reach 360 billion yuan. Chongqing is the largest city in Western China, a large proportion of industry, and many State-owned enterprises.
The stake in Chongqing City Commercial Bank, is Carlyle's first foray into China's banking sector. The private equity group had previously pulled out by Citigroup (Citigroup) led consortium, the consortium last month, 3.1 billion dollars to buy the Guangdong Development Bank (Guangdong Development Bank) most of the equity. .
Dah Sing Bank in Hong Kong Stock Exchange to suspend business yesterday, waiting for the announcement. It is believed that other foreign banks also bidding stake in Chongqing City commercial bank.
Bank of China and the four other cities as the state-owned commercial banks in providing financing for local projects, Chongqing City Commercial Bank to play an important role. Chongqing municipal government is the bank's largest shareholder. Chongqing is China's municipalities, directly to the central government. .
Rating agency Moody's Investors Service (Moody), a copy of the study on the analysis of commercial banks said: "the local Government has been actively involved in the operation of the Bank, for example, the appointment of the management of key positions, etc. ”。.
"And such a close relationship between the local government may bring opportunities, but the other hand, may affect the business operations of the bank.". .
