Citic Bank Nonstandard Investments Exceed Limit

SHANGHAI—China Citic Bank Corp. offered a glimpse on Friday of the potential impact of new government regulations reining in a type of high-yield investment product, saying its portfolio exceeds one key limit by a considerable margin.

State-controlled Citic is only the second major Chinese lender to disclose whether it would be in compliance with regulations released Wednesday tightening control of a type of investment sold by banks called wealth-management products. Among the requirements, the new regulations cap the portion of such products that regulators label “non-standard” and consider riskier.

On Friday, Citic Vice President Zhang Qiang said at a press …


Saturday, March 30th, 2013 EN

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