JPMorgan invests more in Chinese business
(1 June 2012 – China) JPMorgan Chase & Co raised its capital to heavily invest in its Chinese division with over US$1 billion (A$1.02 billion) to take advantage of further liberalisation of China’s banking sector.
JPMorgan Chase has invested US$394 million in JPMorgan Chase Bank (China) Company and will utilize the added capital to boost corporate lending and launch new products.
The additional capital will allow JPMorgan Chase to meet stringent capital requirements required by the Basel Committee.
The capital ratio for larger and important banks such as JPMorgan Chase is 11.5 percent while for systemically less important banks it is fixed at 10.5 percent.
In addition, the bank has received permission from the China Banking Regulatory Commission to open a new branch in Suzhou. This new branch will allow the bank to meet the financial and banking needs of the institutional and corporate clients in that region.
JPMorgan Chase is the largest bank in the United States by assets and market capitalization. With assets of US$2 trillion, it is also the world's largest public company.
The additional capital will allow JPMorgan Chase to meet stringent capital requirements required by the Basel Committee.
The capital ratio for larger and important banks such as JPMorgan Chase is 11.5 percent while for systemically less important banks it is fixed at 10.5 percent.
In addition, the bank has received permission from the China Banking Regulatory Commission to open a new branch in Suzhou. This new branch will allow the bank to meet the financial and banking needs of the institutional and corporate clients in that region.
JPMorgan Chase is the largest bank in the United States by assets and market capitalization. With assets of US$2 trillion, it is also the world's largest public company.
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