En­vi­ron­men­tal com­pa­nies to es­tab­lish green bank

China Daily (Hong Kong) - - BUSINESS DIGEST -

Listed en­vi­ron­men­tal com­pa­nies will es­tab­lish a pri­vate joint-stock bank, China Se­cu­ri­ties Jour­nal re­ported on Mon­day. The China En­vi­ron­ment Cham­ber of Com­merce and Sound Group, a Bei­jing-based en­vi­ron­men­tal tech­nol­ogy de­vel­op­ment com­pany, an­nounced the de­vel­op­ment at a fo­rum on Sun­day. The bank will be es­tab­lished by eight to 10 listed en­vi­ron­men­tal com­pa­nies with 5 to 6 bil­lion yuan ($823 mil­lion to $988 mil­lion) in reg­is­tered cap­i­tal, ac­cord­ing to the plan. It aims to re­al­ize more than 1 bil­lion yuan in net profit in 2019 with 8 per­cent in cap­i­tal ad­e­quacy ra­tio, with non-per­form­ing loans at 2.5 per­cent.

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