Bank of China boosts European subsidiary, distributes preferred share dividends

Bank of China (SSE:601988) has announced a capital increase for its wholly-owned subsidiary, Bank of China (Europe) S.A., based in Luxembourg. The planned capital injection will not exceed the equivalent of EUR 300 million, funded from Bank of China's own resources. The decision was approved by the Bank of China's Board of Directors. Regulatory approval is still pending. Prior to this increase, Bank of China (Europe)'s registered capital was EUR 400 million, with operations encompassing deposits, loans, bond investments, and remittances.