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Bank of Shanghai gets nod to increase registered capital

Bank of Shanghai Co. Ltd. obtained regulatory approval to increase its registered capital.

The China Banking Regulatory Commission's Shanghai office approved a move by the lender to increase its registered capital to 10.93 billion yuan from 7.81 billion yuan, according to an Oct. 12 filing.

Bank of Shanghai applied for the approval after completing a transfer of capital reserves into share capital in July, which led to a corresponding rise in the registered capital.

As of Oct. 11, US$1 was equivalent to 6.89 Chinese yuan.