China, People's Republic of: PRC: BANK OF CHINA (initially Project Mandarin)

Nonsovereign (Private) Project | 38917-014 Status: Closed

Project Mandarin involves an equity investment in a state-owned commercial bank in the People's Republic of China, i.e. Bank of China. ADB is a minority investor.

Project Details

Project Officer
Janette A. Hall Private Sector Operations Department Request for information
Country
  • China, People's Republic of
Sector
  • Finance
 
Project Name PRC: BANK OF CHINA (initially Project Mandarin)
Project Number 38917-014
Borrower/Company BANK OF CHINA LIMITED
Country
Location PRC
Approval Number 7219
Type of ADB Assistance / Amount
7219 Equity USD 75.00 million Committed
Strategic Agendas Inclusive economic growth
Drivers of Change
Sector / Subsector

Finance - Banking systems and nonbank financial institutions

Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Financial Institutions Division
Responsible ADB Officer Janette A. Hall
Project Sponsor(s)
Description Project Mandarin involves an equity investment in a state-owned commercial bank in the People's Republic of China, i.e. Bank of China. ADB is a minority investor.
Objectives and Scope ADB's investment objectives were to promote the ongoing liberalization and privatization process of the PRC commercial banking sector by: (i) enhancing the privatization process through the participation of other investors into the SOCBs in general (strategic, institutional and individual) and in the identified state owned commercial bank in particular; and (ii) introducing best practice corporate governance in the PRC banking sector.
Status of Development Objectives Developmental objectives were achieved.
Status of Operation/Construction In 2006, Bank of China was listed on the Hong Kong Stock Exchange, which was considered at that time to be the largest IPO since 2000. in 2012, ADB fully divested its equity investment in Bank of China
Material Changes None.
Linkage to Country/Regional Strategy
Safeguard Categories
Environment FI
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 17 May 2004
Due Diligence 16 Sep 2005
Credit Committee Meeting 01 Sep 2005
Approval 04 Oct 2005
PDS Creation Date 28 Aug 2006
Last PDS Update 30 Sep 2014

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

Title Document Type Document Date
Equity Investment Bank of China Ltd. Extended Annual Review Report Extended Annual Review Reports Dec 2010
Equity Investment in Bank of China Ltd Reports and Recommendations of the President Sep 2005

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

Title Document Type Document Date
People’s Republic of China: Equity Investment in Bank of China Project Performance Evaluation Reports Dec 2012

Related Publications

None currently available.


The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.