The Bank of China says it plans to raise up to 60bn yuan ($8.9bn;£5.9bn) by issuing new shares in Hong Kong and Shanghai. It is part of a $42bn fund-raising effort by China's four biggest lenders, designed to boost their capital bases. The Agricultural Bank of China is preparing for what is expected to be the world's largest share issue. The banks have to boost their balance sheets after increasing lending as part of government stimulus measures. The government has ordered them to keep more money in reserve after they embarked on a massive lending programme which left reserves out of kilter with loans oustanding.The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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