中资银行筹备新一轮发股筹资
Chinese lenders eye equity sales
China’s smaller banks are planning more than Rmb100bn ($16.8bn) in equity sales as they look to shore up their capital bases to cope with regulatory changes and an expected rise in bad loans.
中国一些较小规模的银行正计划出售逾1000亿元人民币（合168亿美元）的股份。目前这些银行正设法夯实各自的资本基础，以应对监管变化以及预计将出现的不良贷款增加。
Much more than that will come, however, as the weakest of the Hong Kong-listed Chinese banks has yet to announce further capital-raising plans and a number of city-level banks are waiting for the opportunity to raise funds.
然而，股份出售的规模将会远大于以上数字，这是因为在香港上市的中资银行中较弱的银行尚未公布进一步资本筹集计划，还有一些城市级别的银行在等待机会筹集资金。
China Minsheng Bank raised $3.2bn via a convertible bond in March but has one of the weakest capital bases in China, and analysts expect it will be forced to raise equity soon. “I would expect Minsheng to be next to launch a rights issue and perhaps Citic [a rival lender] soon after that,” said one analyst in Hong Kong.
3月份中国民生银行(China Minsheng Bank)通过可转债筹集了32亿美元资金，但是它的资本基础仍是中国各银行中最弱的之一，分析人士预计该行很快将被迫筹集股本。一位驻香港的分析师表示：“我预计民生银行将成为下一个配售新股的银行，也许在它之后不久（其竞争对手之一）中信银行(Citic)也会这么做。”
Mid-sized China Merchants Bank will launch its long-awaited Rmb34.9bn ($5.7bn) rights issue in Shanghai and Hong Kong today. It will be the world’s second-biggest equity market deal this year, according to Dealogic, after Japan Tobacco’s $7.8bn share sale in March. The rights issue, which will be the fourth-largest by a Chinese bank, will give China Merchants Bank a much-needed boost to its capital base after it reported a jump in overdue loans in its half-year results last week.
今天，中等规模的中国招商银行(China Merchants Bank)将在上海和香港启动人们期待已久的新股配售，规模达349亿元人民币（合57亿美元）。根据Dealogic的数据，这将成为今年全世界第二大规模的股市交易，仅次于日本烟草(Japan Tobacco)3月份进行的78亿美元发股交易。此次配售新股将是中资银行第四大新股配售，它将为中国招商银行带来亟需的资本基础提振。就在上周，该行上半年财报显示其逾期贷款大幅增加。
The latest official figures show non-performing loans at Chinese banks rose for a seventh successive quarter to hit Rmb540bn in the second quarter, and analysts expect the number of problem loans to continue to rise as a result of a credit boom on the mainland since 2008.
最新官方数据显示，第二季度中资银行不良贷款规模已连续7个季度增加，规模达5400亿元人民币。分析人士预计，由于2008年以来中国内地的信贷繁荣，问题贷款的规模将会继续增长。
China Merchants has less capital than it should by the key measure of balance sheet strength under global capital rules. Its core tier one capital ratio is 8 per cent, versus a minimum requirement of 8.5 per cent under Basel III rules being introduced around the world. After its rights issue that will rise to 9.4 per cent, according to analysts.
按照全球资本规定中对于资产负债表实力的关键衡量标准，中国招商银行拥有的资本不足。该行核心一级资本比率为8%，而正在全世界陆续实行的《巴塞尔协议III》(Basel III)规定的最低要求为8.5%。分析人士表示，在新股配售之后这一比率将上升至9.4%。
That would put it just ahead of China Citic Bank, which has a 9.3 per cent tier one capital ratio, while Minsheng Bank would remain the weakest at 7.81 per cent.
这会令该行超过一级资本比率为9.3%的中信银行，而民生银行将依然以7.81%的比率垫底。
Mike Werner, of Bernstein Research in Hong Kong, believes that Minsheng needs to raise Rmb60-Rmb65bn to fully meet Basel III capital ratio targets by the 2018 deadline.
伯恩斯坦研究公司(Bernstein Research)驻香港分析师麦克•沃纳(Mike Werner)相信，民生银行需要在2018年截止日期之前筹集600亿到650亿元人民币，才能完全满足《巴塞尔协议III》的资本比率要求。
天之聪教育
2013-08-27
天之聪教育
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