Finance: Nanjing bank applies to list

(Shenzhen Daily)
Updated: 2006-09-25 16:56

Nanjing City Commercial Bank, in which BNP Paribas bought a 19.2 percent stake, has applied to stock regulators to list A shares on a mainland stock exchange by the end of this year, the China Securities Journal reported Saturday.

The Nanjing bank will issue 700 million to 800 million shares, making it the first city bank to list A shares, the newspaper said, quoting an unnamed source. The bank has a capital adequacy ratio of 9.2 percent, putting it above China's requirement of 8 percent, and a nonperforming loan ratio of 3.2 percent, the paper said.