More capital for Shanghai Rural Commercial Bank
ANZ will invest RMB1.65 million, or around $250 million, as part of an expansion in the capital base of its major investment in China, Shanghai Rural Commercial Bank.All current shareholders are contributing to a capital raising of 8.1 billion renminbi, ANZ said.SCRB recorded a pre-provision profit of 2.6 million renminbi in 2009 and earned a return on assets of 0.9 per cent, according to data compiled by KPMG.