Environmental companies to establish green bank
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.