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RETAIL BANKING | Tony Chua, China

Bank of China no plans to raise funds in 2011

The lender opted to not to raise capital despite regulator’s imposition of tougher requirements.

Bank of China, one of China's big four state banks, has no fundraising plans for this year, its president, Li Lihui, said on Wednesday.

The comments came as stock investors show concerns about fresh fundraising plans from banks after China Merchants Bank said on Monday it would raise up to 35 billion yuan ($5.4 billion) in Hong Kong and Shanghai offerings, according to a report in Reuters.

Chinese banks are under pressure to raise funds to meet tougher capital requirements and strengthen their balance sheets.

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