Core Viewpoint - China Bank announced the full redemption of its 10-year fixed-rate subordinated capital bonds, originally issued on September 17, 2020, with a total scale of 60 billion RMB [1] Group 1 - The bonds were issued with a redemption option for the issuer, allowing China Bank to redeem the bonds at the end of the fifth interest period [1] - The announcement regarding the completion of the bond issuance was made on September 21, 2020 [1] - As of the announcement date, the bank has exercised its redemption right and fully redeemed the bonds [1]

Core Viewpoint - CITIC Bank issued a total of RMB 40 billion in subordinated capital bonds from August 12 to August 14, 2020, and announced the completion of the issuance on August 15, 2020 [1] Group 1 - The bonds have a conditional redemption right for the issuer, allowing CITIC Bank to redeem part or all of the bonds on the last day of the fifth interest period, which is August 14, 2025 [1] - As of the date of the announcement, CITIC Bank has exercised its redemption right and fully redeemed the bonds [1]

Core Viewpoint - Agricultural Bank of China has redeemed 40 billion yuan of its subordinated capital bonds, a common practice among commercial banks to maintain capital adequacy and optimize capital structure [2][5]. Group 1: Bond Redemption Details - On April 29, 2020, Agricultural Bank issued 40 billion yuan of 10-year subordinated capital bonds, with the option to redeem them at the end of the fifth year, which is May 6, 2025 [4]. - As of May 7, the bank has exercised its redemption right and fully redeemed the bonds, which is a routine operation under the bond's issuance terms [5]. Group 2: Implications of Redemption - Subordinated capital bonds are crucial for commercial banks as they enhance capital adequacy and risk resilience, supporting business development [5]. - According to the "Commercial Bank Capital Management Measures," the amount of subordinated capital instruments that can be counted as capital decreases in the last five years before maturity, prompting banks to redeem and replace them to maintain capital levels [5]. - The redemption indicates that the bank meets the necessary conditions for exercising the redemption right, reflecting its strong financial position and profitability [6].