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China Huijin raises stake in BOC & ICBC

Apr. 9, 2012 (China Knowledge) –Central Huijin Investment Co, the investment arm of China's sovereign wealth fund, has raised its shareholding in Bank of China Ltd<601988><3988>to 67.63% and its stake in Industrial and Commercial Bank of China or ICBC<601398><1398> to 35.43%, the source reported.

The report said that Huijin spent RMB 250 million to buy 83.63 million more shares of BOC and RMB 218 million to buy 50.32 million more shares of ICBC.

In Oct 2011, Huijin raised its shareholdings in the country's Big Four state-owned lenders by buying their A-shares on the secondary market, China Knowledge reported earlier.

As of Dec. 31, 2011, ICBC's capital adequacy ratio reached 13.17% and its core capital adequacy ratio was 10.07% while Bank of China's capital adequacy ratio and core capital adequacy ratio was 12.87% and 10.07%, respectively.

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