News Column

CITIC Bank Qualified on Direct Trade of RMB, GBP

June 25, 2014

BEIJING, June 25, SinoCast -- CITIC Bank obtained the qualification to be a market maker on direct trade between renminbi and Great Britain pounds (GBP), becoming one of first market makers on direct trade of the two currencies since the start of the trade in the interbank foreign exchange market on June 19.

This is the fourth qualification obtained by the bank following the qualification to be a market maker of direct trade of renminbi against Japan yen, Australian dollar and New Zealand dollar.

The bank will issue not more than CNY 37 billion tier 2 capital bonds and included it into tier 2 capital.

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Source: Sinocast Banking & Credit Beat (China)