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Bank of Communications to inject up to HK$30B into Hong Kong unit

Bank of Communications Co. Ltd. plans to inject up to HK$30 billion into its wholly owned unit Bank of Communications (Hong Kong) Ltd.

The capital injection aims to boost the bank's retail and private banking operations in Hong Kong, among other things, according to a Jan. 16 release.

The capital increase will be executed in stages, the bank said.

Bank of Communications (Hong Kong) has a registered capital of HK$17.9 billion.