Chinese banks shrug off subprime, ICBC ramps up credit risk processes

News

asiarisk-apr08-01-gif

Industrial and Commercial Bank of China (ICBC) reported only minimal exposure to subprime-related bonds, Yang Kaisheng, vice-chairman and president of the bank told a press conference in Beijing and Hong Kong on March 25.

"We are holding $1.23 billion in subprime-related bonds, which amounts to just 0.1% of our assets," said Yang, adding that he was not concerned about further writedowns in the value of these assets. The bank has $505 million in collateralised debt obligations (CDOs), he said, wh

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: