Bank of Chongqing Co. Ltd. clarified that a potential increase in its dividend payout ratio that was widely reported in the media is merely the company's target and that it expects the dividend payout ratio to recover in the next few years.

The bank was responding to some news reports about an increase in its dividend payout ratio. The bank said March 20 that it does not have any inside information on what would lead to a definitive increase in its future dividend payout ratio.

Bank of Chongqing had declared a final dividend of 11.8 Chinese fen per share for 2017, down from 2016's final dividend of 29.1 fen per share.

As of March 20, US$1 was equivalent to 6.33 Chinese yuan.