Bank of Gansu plans 3bn yuan capital boost

Bank of Gansu plans to raise up to 3 billion yuan through a convertible negotiated deposit to replenish tier-one capital, with conversion into ordinary shares possible within 6-10 years.

The move follows a State Council decision allowing local governments to recapitalize banks. The bank reported first-half net profit of 399 million yuan and total assets of 427.5 billion yuan.