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China largest commercial bank holds $152 mln of Lehman Brothers-related bonds |
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19:46, September 17, 2008 |
 | | ICBC holds $152 mln of Lehman Brothers-related bonds |
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The Industrial and Commercial Bank of China (ICBC) said both its mainland and overseas branches held a total of 151.8 million U.S. dollars worth of bonds of or related to bankrupt U.S. investment bank Lehman Brothers.
ICBC said it was considering to draw provisions for the said bonds.
Lehman Brothers Holdings Inc., the fourth-largest U.S. investment bank, filed for bankruptcy protection on Monday, a move which triggered large scale upheaval in the global financial market.
A woman leaves a branch of the Industrial and Commercial Bank of China in Shanghai. (Photo: China Daily)
The exterior of the world headquarters for Lehman Brothers can be seen in New York, May 19, 2008. (Xinhua/Reuters Photo) Source: Xinhua
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