China's four biggest publicly traded banks could face a combined capital shortfall of at least Rmb480bn ($70bn) over the next five years, according to the president of Industrial and Commercial Bank of China, the world's biggest bank by market value.
All of China's largest banks have announced plans in the past month to raise fresh capital to shore up their balance sheets after an unprecedented credit binge last year.
But the total amounts they plan to raise fall far short of the five-year estimate of Yang Kaisheng, ICBC president .
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