China banks take on more bond arrangement
They are rocketing up the international bond arranging league tables in Asia, leaving investment banking stalwarts in their wake
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CHINESE banks, encouraged by Premier Li Keqiang's "going-out" strategy, are rocketing up the international bond arranging league tables in Asia, leaving investment banking stalwarts in their wake.
Industrial & Commercial Bank of China Ltd (ICBC), the world's biggest lender by assets, jumped four spots from the end of last year to No 11, its all-time best, among arrangers of sales in either US dollars, euro or yen, data compiled by Bloomberg show. Bank of China Ltd advanced five places to No 6 in the first six months of the year, as Barclays plc and UBS Group AG dropped out of the top 10 entirely.
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