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China Construction Bank injects equity capital into New Zealand unit

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China Construction Bank injects equity capital into New Zealand unit

ChinaConstruction Bank Corp. injected NZ$140 million of equity capitalinto its New Zealand subsidiary to fund its lending growth, Scoop reported July22, citing a statement from the Chinese lender.

ChinaConstruction Bank (New Zealand) Ltd.'s loan book has grown toNZ$378 million as of March 31 from NZ$16 million as of Dec. 31, 2014.

The bank is in the midst of looking for a new CEO followingthe resignation of Xu Changning, which came into effect June 30.

As of July 21, US$1was equivalent to NZ$1.43.