BoCom: capital sufficient, no refinancing plan

Bank of Communications<601328><3328>, China's fifth largest lender on Wednesday said it has no refinancing plan as it boasts a high capital adequacy ratio.

Bank President Jiang Chaoliang, also a member of CPPCC told reporters when attending the annual session of the advisor in Beijing that its capital is sufficient enough for further expansion, thus, there is no need to launch a fund-raising operation.

The bank has set up a new integrated operation system in an effort to prepare for its imminent entry into insurance and capital markets, Jiang said, and whether the bank would be the first batch to tap on those markets, will be still subject to the banking regulator.