LONDON, Feb 1 (Reuters) - China will inject $30 billion into Agricultural Bank of China, Chinese Premier Wen Jiabao told the Financial Times in an interview published late on Sunday.
'The China Agricultural Bank is the last among five national banks which is now undertaking a banking reform ... Our decision for this recapitalisation is around $30bn,' the paper quoted Wen as saying.
The FT said the sum was substantially higher than the $20 billion the bank was expected to receive. AgBank is the last of China's major state lenders to undergo restructuring into a commercially oriented bank.
(Reporting by Quentin Webb; Editing by Jon Boyle) Keywords: CHINA AGBANK/ (Reuters Messaging: quentin.webb.reuters.com@reuters.net; +44 207 542 9405) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'The China Agricultural Bank is the last among five national banks which is now undertaking a banking reform ... Our decision for this recapitalisation is around $30bn,' the paper quoted Wen as saying.
The FT said the sum was substantially higher than the $20 billion the bank was expected to receive. AgBank is the last of China's major state lenders to undergo restructuring into a commercially oriented bank.
(Reporting by Quentin Webb; Editing by Jon Boyle) Keywords: CHINA AGBANK/ (Reuters Messaging: quentin.webb.reuters.com@reuters.net; +44 207 542 9405) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.