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Construction Bank has $191m of Lehman exposures
(Xinhua)
Updated: 2008-09-20 09:49 China Construction Bank Corporation (CCB) said on Friday it held $191.4 million in bonds issued by failed US investment bank Lehman Brothers. The lender had $141.4 million in senior bonds and $50 million in subordinated bonds. The amount accounted for 0.019 percent of its total assets and 0.29 percent of its net assets through June. "CCB will continue to closely monitor developments of relevant events, prudently assess potential losses, make sufficient provision for impairment losses and protect the bank's legal rights," said the bank in a statement. The Lehman Brothers bankruptcy would not cause a significant impact on CCB's financial situation, the bank said. (For more biz stories, please visit Industries)
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