HONG KONG/BEIJING, March 31 China Construction
Bank Corp plans to issue 20 billion yuan
in Basel III-compliant subordinate debt in the Chinese market to
replenish tier-2 capital, the bank said in materials circulated
at a press conference in Beijing on Monday.
The bank did not give a specific timeline for the debt sale.
The country's second biggest bank posted a 9.2 percent
on-year rise in net profits for the final three months of 2013
on Sunday, becoming the third of China's four biggest banks to
beat market forecasts.
Bank of China Ltd and Industrial and
Commercial Bank of China Ltd , also beat
estimates when they released their fourth quarter earnings last
week, with China's banks showing resilience even as the
country's economy slows.
(Reporting by Hongmei Zhao in Hong Kong and Joy Leung in
Beijing; Writing by Shanghai Newsroom; Editing by Gabriel