ICBC putting another US$360 mln into Macau unit

The mainland’s Industrial and Commercial Bank of China Ltd has announced that it will put another US$360 million (MOP2.88 billion) of capital into its subsidiary in Macau. ICBC told the Hong Kong Stock Exchange that its aim was to “further improve the market position and competitiveness” of ICBC Macau. The parent company said it expected to continue to own 89.33 per cent of ICBC Macau’s stock.