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OCBC Seeks $2.7 Billion Via Rights Issue After Wing Hang

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Oversea-Chinese Banking Corp. (OCBC), Southeast Asia’s second-largest lender by assets, plans to raise S$3.37 billion ($2.7 billion) by offering shares to existing holders after its acquisition of Hong Kong’s Wing Hang Bank Ltd. (302)The company will sell as many as 440 million new share...

China Banks’ Worst Year Since 2004 Seen as ICBC’s Bad Loans Jump

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Industrial & Commercial Bank of China Ltd. reported a 21 billion yuan ($3.4 billion) jump in soured credit in the first quarter, the biggest increase since at least 2008, in a filing on Wednesday.ICBC, China Construction Bank Corp., Agricultural Bank of China Ltd, Bank of China Ltd. and Bank of ...