Bank of China (BOC), the country's largest foreign exchange lender, said
yesterday it had total exposure to failed US investment bank Lehman Brothers of
US$128.82 million.
The exposure, consisting of Lehman-related bonds of US$75.62 million and
loans of US$53.2 million, accounted for 0.01 percent of the lender's total
assets and 0.19 percent of its net assets, the bank said in a statement on its
website.
It said the loss would not cause serious impact to its financial status. It
was still assessing possible losses and would pay close attention to new
developments. It would also set aside relevant allowances timely according to
cautious principles.
After Lehman Brothers filed for bankruptcy on Monday, BOC shares dropped by
the daily 10 percent limit on Tuesday and tumbled a further 6.31 percent
yesterday in the yuan-denominated market.
