Bank of Communications Co. said Wednesday that it plans to inject as much as 20.0 billion Hong Kong dollars (US$2.58 billion) of capital into its wholly owned Hong Kong subsidiary.
The move has been approved by the China Banking and Insurance Regulatory Commission, the Chinese lender said.
The bank’s shareholders in March approved the capital injection of up to HK$30.0 billion into the Hong Kong unit.
Bank of Communications to Inject HK$20.0B Into Hong Kong Unit