May 28, 2006	Sunday	Rabi-us-Sani 29, 1427

HONG KONG, May 27: Bank of China aims to expand its loan business despite Beijing’s measures to curb lending and cool the country’s overheated property market, a Hong Kong newspaper reported on Saturday.

Bank of China, the country’s second-biggest lender, on Wednesday raised $9.7 billion in the world’s sixth-largest IPO.

The South China Morning Post quoted Bank of China Chairman Xiao Gang as saying that the bank planned to boost its corporate loans growth by between 10 and 12 per cent a year over the next three years, and retail loans growth by between 18 and 20 per cent.

Xiao said the bank’s corporate loan growth had been less than 10pc over the past three years and the government’s measures would not seriously affect its expansion plans.—Reuters