Barclays, CDB to tie up in capital management

Barclays PLC plans to team up with China Development Bank (CDB) on capital management, sources cited Barclays Chairman Robert Diamond as saying.

Barclays will assist China Development Bank on its way to transfer from a policy bank to a commercial one, according to Diamond, adding that it will also provide special training on risk management control and exploiture of new-type financial products to the Chinese lender, making the latter acclimatize to its new capital agreement.

The two sides are in advanced talks on a commodity exchange deal, sources reported.

“It is crucial to maintain the partnership with China Development Bank, with expected long-term profit emerging in the coming two or three years, ’’ Diamond said.

CDB is currently one of the three China’s state-owned policy banks, and holds 3.1% stake in Barclays.